Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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Just a good idea( with the help of Sampdm8, respect! ).
Will track it for a while for fun.
This is a Descending bullish Triangle. In bullish markets, while being formed as a correction(always) relative to the global bullish trend, signals about the PARENT trend continuation, i.e. the previous movement continues...
The ATR started depreciating as of the 11 jan, as did the volume/buyers on the DMI, any kind of triangle/pennant pattern started then. However there is a dubious cup and handle pattern forming in the last 4 days or so. The volume profile seems to align, but the handle part is "messy" and is 4 days enough time to afford credence to it?