Trading BTC in simpler way.

We have a Ascending triangle formation in BTC as we can see in 4 hourly chart.
Ascending triangle inherently are bullish continuation pattern but we have failure rates also.
Ascending triangles are formed higher lows and and highs at approximately same level.
Such chart confirmation pattern requires minimum 2 touches to upper and below trend line(3 is the best) followed with diminishing volume which usually shoots up during the breakout
As we all know chart patterns are not confirmation pattern but an approximation of the trend and what can happen in future seeing such past patterns.
Ascending triangles have upward breakout probability of 63% and downward breakout of 33%. We can also have fake breakout on the upside and then going back inside the triangle.
The best way to trade this triangle is on the upward break of the triangle and then let it come back to the apex and start uptrend again.
Right now we are well supported on 50,100,200 MA on 4hrs and stoch RSI should head upwards and we should move to top of the triangle at 6700-6800$.

All the best :)

تم فتح الصفقة:

going back inside the triangle..