BTC is taking its time but the breakout should be massive
Today BTC made a new alltime high again. But we are still trapped inside this huge iSHS pattern. In fact it has now actually morphed into a double shouldered inverse Head and Shoulders pattern. You could say a iSSHSS pattern.
With a little fantasy you could also interpret the splitted head as two heads too (meaning iSSHHSS).
What do I want to tell you with my cryptic speech?
I want to tell you that it does not matter how you label it in this case, because the endresult, a massive breakout, is likely going to happen soon.
This ascending right triangle pattern is also a bullish confirmation, and I would like to see a retest of this breakout level.
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If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions.
If you make any trades or investments after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
You #Promise??? lol... jp
Same triangle breakout as in ETH. Are they phasic now?
Either that, or they are both completely independent, just following their own count, without looking left or right.
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