Bitcoin is in a symmetrical triangle. The strengths of bulls and bears are balanced 50/50. Nobody knows the future, even the one who creates it. Look at all the related ideas, so it will become clearer. The price can go either up or down, you need to understand that this model of a triangle gives a chance to go up or down in a ratio of 50/50. In such models it is very important to work from the situation. Let me remind you once again that no one knows the future, even the one who creates it. Work goes from the situation against the expectation of the crowd. This model of a symmetrical triangle figure is very common when trading on charts, which does not have a pronounced direction, as it is characterized by a balance between supply and demand. The figure is formed of two converging lines (resistance line and support line). The intersection of these lines is called the top of the triangle. The amplitude of fluctuations within the figure decreases, as indicators of trade volume gradually decrease. Pay attention to the graph as the volume decreases to the narrowest part, where bears or bulls will be decided to win. Support and resistance lines have equal angles of inclination. This triangle shape resembles an isosceles triangle when the bisector divides it exactly in half.
To understand which direction the price will go with a greater degree of probability, you need to take into account such features about the time of the formation of the figure: 1) most likely, the price will break through the support / resistance level and go in the direction of the trend. This is in most cases. 2) if inside the symmetric triangle (component of the wave of the triangle) the price increase is accompanied by an increase in volume indicators, then it is most likely that the figure will be broken up. And vice versa, if inside a symmetrical triangle a price drop is accompanied by an increase in volume indicators, then most likely the figure will be broken down. Do not forget to look in the tape of sales. 3) the proximity of significant levels of support / resistance can also affect the direction of price movement.
After breaking the Symmetric triangle up and down, the price usually goes in the direction of breaking through a distance at least equal to the distance to the height, the widest part of the figure.
If, for example, this symmetrical triangle breaks down, then the level of about $ 7,000 is very important; if we break it, then formation 3 of the “Bear Measured Movement” cycle is finally confirmed. See this idea for more details.
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Until September 23, I think we will be in this triangle. And then it will be seen that with BAKKT. Where the price will go and in which direction the triangle will be broken depends on the decision made. I recall September 23 decision on BAKKT
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until September 23 I think we will be in this small globally symmetrical triangle. And then it will be seen that with BAKKT. Where the price will go and in which direction the triangle will be broken depends on the decision made. 23rd is better not to be in position and see what happens. In which. they’ll break the side, and most importantly, we will gain a foothold. I am sure there will be false breakthroughs to deceive the crowd. Always trade with the trend. I recall September 23 decision on BAKKT
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The trend can tell where it is more likely to break this symmetrical triangle - a 50/50 uncertainty figure.
Since the birth of BTC, the global trend is upward. The trend over the past 2 years (from the peak of $ 20,000) is a downtrend. The existing trend for half a year is an uptrend.
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It is also worth noting that if we break this symmetrical triangle up and fix, we thereby confirm the figure "ascendant pennant." Here it’s fantastic goals + 117% If we break through the "Symmetrical Triangle" down. And the price will be fixed under it. Thus, we confirm the very unpleasant figure “Bear measured move”. Always work in a trend, no one knows the future.
Trade active
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There is a breakthrough of the triangle down, it is important where the price fixes
Yes this looks about right, the idea of it going quite far anywhere ;-)
SpartaBTC
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@dragononcrypto, So that people feel the shock of movement. That there was doubt and uncertainty. So that shocked and those who predicted a fall and those who predicted growth. To deceive one and the other)))))
SpartaBTC
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Dominance BTC
SpartaBTC
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Trading idea 2.5 months ago Trading with the trend Option of forming a global triangle