Triangle sorting is the most important form of bitcoin

In bitcoin trading, many chart forms are applied, such as double bottom, double top, head and shoulder bottom, triangle, etc. The most important one belongs to triangle sorting.

I think a lot of people remember last November's crash.

At that time, bitcoin was in a large convergence triangle, which failed to break upward several times and was well supported in the trend line below. However, in the end, in November, with the help of bad news, it broke through the defense line of bulls, which also caused tens of millions of single burst positions.

At that time, I was still doing the column of gold disk in golden finance. I remember that the triangle arrangement lasted for several months, and I also mentioned the trend of triangle arrangement many times in my analysis. On November 14, I left an analysis on the late review of golden plate:



"The last show we see shares, below is the last 4 months BTC graph, we see a high drop in turn, low in turn push up form, currently below the trend line is coming to near $6100, this is the last line of defense, bulls fell below what are the consequences of everyone is very clear, here don't talk nonsense, if lost, should look down 300-500 dollars is a big probability, so we'd better prepare for the worst, appear at least to know how to deal with after a, rather than a dozen not ready to battle."



Night and day, short launched an offensive, sell in the $6100, large Numbers of quantitative trading, activate the eventually brought in 3000 dollars down, this is another story, but in front of the breakthrough, the reason why I mention everybody to pay attention to, make the worst plan, is based on the strength of the breakthrough of the triangle is very large, devastating the conclusions.



Therefore, in the history of bitcoin, triangle sorting is a very important form, far more important than double bottom, double head, head and shoulder top. You can also pay more attention to it in the future analysis.



As for the current trend, the triangle arrangement, has entered the end, regardless of which direction to break, any prediction is not as safe as the execution of the right. Waiting for a breakthrough and then following up was my strategy, and it still works.



Strategy, if you do not break the trend line up and down, do not rush to operate. Once the breakthrough, will form the resultant force, that time must take advantage of the situation.



If you break the trend line up, which may be the beginning of the main uptrend at the weekly level, then the space behind it may be more than $20,000, but breaking down will also be a huge killer, maybe $6,500 soon.

So I advise everyone to be cautious and not to give cannon fodder to the crops.


On Oct. 13, I made three COINS in the TV line, has highlighted a triangle shape response: "gave 3 line, you must keep in mind that this is an important clue to influence future market movements, the bottom of the support line to form the triangle to the bottom of the $6000 is low, the attachment is the support of the day before yesterday, and $5743 is their lows, the bottom of the two lines is long, cannot be broken; The top pressure is $6,800 to $7,200.
Tip: don't break $6,000, go long and break a stop."