I think this is the coolest chart pattern in crypto i have found. It's a weekly on the OriginTrail token TRACUSD.
Showing a giant symmetrical triangle, with a well-defined level of horizontal resistance running through the middle of the triangle.
Notice also TRACUSD loves to retrace to the 4.236 Fibonacci level after each decline.
The minimum target of this breakout is around $2.50 which is the length of the vertical side of the triangle. This also happens to coincide with the all-time high, making it an important level.
However, the ultimate price target for this would be the 4.236 extension to around $14.84!
Only time will tell if this pattern will play out, however it's a very nice looking chart. Do you agree? Comment below.
Showing a giant symmetrical triangle, with a well-defined level of horizontal resistance running through the middle of the triangle.
Notice also TRACUSD loves to retrace to the 4.236 Fibonacci level after each decline.
The minimum target of this breakout is around $2.50 which is the length of the vertical side of the triangle. This also happens to coincide with the all-time high, making it an important level.
However, the ultimate price target for this would be the 4.236 extension to around $14.84!
Only time will tell if this pattern will play out, however it's a very nice looking chart. Do you agree? Comment below.
