Ascending Triangle - BTC TA 5/180
The ascending triangle is one of the most common chart pattern, normally it's a bullish pattern.
Entry should be at the breakout from the resistance and stoploss should be placed below the last low, while target will be the previous resistance zone in this case near $16400 - $16500 (supply zone)
Bulls takeover will occur when price breaks the red box, don't reject and we begin to see new highs.
In a Bear-markets bullish structures tend to fail (fake-out) so keep an eye on it. DYOR.
Entry should be at the breakout from the resistance and stoploss should be placed below the last low, while target will be the previous resistance zone in this case near $16400 - $16500 (supply zone)
Bulls takeover will occur when price breaks the red box, don't reject and we begin to see new highs.
In a Bear-markets bullish structures tend to fail (fake-out) so keep an eye on it. DYOR.
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