BCHBTC

BCHBTC

PAIR:BCHBTC
THE SYMMETRICAL TRIANGLE:
On the 1hour time frame, price is currently maintaining Two trendlines bound prices; the bottom trendline slopes up and the top one slopes down.
The most important of all is that Price must touch each trendline at least twice, forming distinct valleys and peaks.This chart is called the loose chart pattern as their are white space in between the price inside the triangle.
FOR MORE INFO ABOUT THE SYMMETRICAL TIRANGLE CHECK BELOW:
https://ci.covesting.io/tradeidea/cetusd-2
The same trader's guidelines and market performance.
MARKET SUGGESTION:
Traders should most time expect this chart to be busted not all the time, but most of the time.
The consolidation pattern of the symmetrical triangle forms as volume recedes. Then, price breaks out downward, but within a few days or hours(depending on the time frame the trader is using), price reverses and shoots out the top of the symmetrical triangle, busting the pattern and leading to a strong move upward.
Always remember this that only when price breaks out and closes out the pattern, this only is the signal to talk a position.
VERDICT:
BUY:0.110342729sats
SELL:0.11137227sats up to 0.11324545
STOP LOSS:0.10907873sats

Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL

Trade Ideas
View all