To my humble opinion here is the chart that reflect past descending and ascending triangles expressing the break downs and break outs .
In the triangle 1 we have the current price action that is expected to break out either in triangle 2 or 2&3 as a protracted base because of the expected resistance around $ 6400.00
These ascending triangle also predict a break out either earlier around early May to the level of $ 6400.00 in triangle 2
The triangle 2 predicts a break out to triangle 4 arround mid July ...
However because the base of $ 6400.00 is expected to be protracted because of the Major Resistance element at that price the triangle 2 could extend till end September and break out into triangle 5 around that date.
The price action in Bitcoin has pretty much followed ascending and descending triangle formations so let us see what comes ahead,
Regards
Basil Paizee
In the triangle 1 we have the current price action that is expected to break out either in triangle 2 or 2&3 as a protracted base because of the expected resistance around $ 6400.00
These ascending triangle also predict a break out either earlier around early May to the level of $ 6400.00 in triangle 2
The triangle 2 predicts a break out to triangle 4 arround mid July ...
However because the base of $ 6400.00 is expected to be protracted because of the Major Resistance element at that price the triangle 2 could extend till end September and break out into triangle 5 around that date.
The price action in Bitcoin has pretty much followed ascending and descending triangle formations so let us see what comes ahead,
Regards
Basil Paizee
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