Crypt0Jack
Crypt0Jack 2 minutes reading from Bitcoin

Crypto Direction: A Simple Trick to Identify a Triangle

If there's one technical pattern you keep your 👀's on in all of crypto, it's this:

This Descending Triangle

Bitcoin BTC

If this looks familiar to you, it's because we've seen it in BTC's past... prior to the final plunge in 2018.

If you haven't puckered yet, you should.

Also worth noting, in 2018, the 1.618 extension of the pattern was a perfect target level.

If we apply this to today's triangle, the target shows to be ~10k.

Lastly, keep your eyes open the setup to be invalidated.

Here's an example of how this might look, along with a bullish reversal for the hopium hit.

If you enjoyed this sort of educational content, I hope you'll join me at a livestream where I can explain in real time and provide follow up Q&A.

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This post is based on this twitter thread.

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