Gochain Symmetrical Triangle breakout to 323 by mid January
Symmetrical triangle rules
1. Tends to breakout in the direction of the trend (up).
2. Triangles perform best post breakout when they appear at the start of trends. (uptrend started October 26).
3. Bullish breakout tends to occur before 73% of the triangle is completed (January 13).
Besides this we can see the oscillators such as the MACD picking up steem on the Daily time frame.
Target
Breakout target 323. Before we breakout, we might see a low of 159.
This is where the .5 fib retracement from the ATL and the .65 fib retracement from the start of the triangle coincide with the triangle support.
Apart from this TA, GO is a project which has recently bottomed out, has a very small market cap of around 10 million and is doing fantastic FA wise with many different partnerships such as the UAE government, HBK, Dish Network and many more.
1. Tends to breakout in the direction of the trend (up).
2. Triangles perform best post breakout when they appear at the start of trends. (uptrend started October 26).
3. Bullish breakout tends to occur before 73% of the triangle is completed (January 13).
Besides this we can see the oscillators such as the MACD picking up steem on the Daily time frame.
Target
Breakout target 323. Before we breakout, we might see a low of 159.
This is where the .5 fib retracement from the ATL and the .65 fib retracement from the start of the triangle coincide with the triangle support.
Apart from this TA, GO is a project which has recently bottomed out, has a very small market cap of around 10 million and is doing fantastic FA wise with many different partnerships such as the UAE government, HBK, Dish Network and many more.
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