[BTC market analysis] We are in the range with a triangular cross-shareholding!A market where wait-and-see continues without a sense of direction!Triangular cross-shareholding technical explains analysis [2020/9 / 28-10 / 04]
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Last week's Bitcoin quote review
We will analyze and review the market price of BTC/USD from June 9st to June 28th.
Last week's highlights
Looking back over the past week, the points I would like to pay attention to areIt was a market that was forming a triangular cross-shareholding, with no sense of direction and a wait-and-see approach.That's the point.
The above image is an hourly chart of BTC USD.
As you can see, the highs and lows are narrowing, forming a triangular cross-shareholding.
In the case of cross-shareholding market, it is a rule of thumb to "follow after exiting", so at this point we judge that it is not the market that should have a position.
For short strategies selling from $ 11150Article of the week before lastIt is explained in, so please refer to it.
In this article, I will explain more specifically about cross-shareholding.
Holding a triangle
Today"Triangular cross-shareholding (pennant)"I would like to introduce.
By the way, last week's article"Fractal structure"Is explained, so please refer to that as well.
About the type of cross-shareholding
First,Holding a triangleIsA chart pattern in which the trend line connecting the high and high prices and the trend line connecting the low and low prices contract and collide to form a triangle.Refers to.
It is a shape that often appears when buying and selling are offensive and defensive in the market adjustment phase (range).
If you can discover cross-shareholdings, you will have a wider range of market analysis and entries, so be sure to remember them.
And there are three types of triangular cross-shareholdings.
① Symmetrical (symmetrical)
② Ascending (rising)
③ Descending (descending)
These are the above three.
Symmetrical Triangle (Symmetric)
The Symmetrical Triangle is a pattern created by an uptrend line and a downtrend line.
The high price goes down, the low price goes up, and the price movement shrinks steadily.
When this pattern comes out, the offense and defense of buying and selling is fierce, and I do not know the direction to break, so watch the situationThe rule of thumb is to follow in the direction of the break.
Ascending Triangle (Rise)
The Ascending Triangle is a pattern in which the high price is a constant line and the low price gradually rises.
Because buying pressure predominates over selling pressureHigh probability of breaking up.
Of course, it doesn't always break up, but breaking up is a promising chart pattern.
Descending Triangle (Descent)
The descending triangle is a line where the low price is constant and the high price gradually drops.
Because selling pressure is superior to buying pressureHigh probability of breaking down.
It's the reverse pattern of the Ascending Triangle, so be careful not to mess it up.
Recommended entry method for cross-shareholding
The entry method when a triangular cross-shareholding appears isBuy and sell back after a breakIs the best.
Cross-shareholding = adjustment phase, where buying and selling are competing.
So, after one of them is settled, let's follow in the direction of movement.
Of course, it cannot be said that you can win absolutely, but it is a method that can increase the winning percentage, so please hold it down.
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Outlook this week
I will explain the market outlook for this week.
First, please see the 4-hour bar below.
As featured in this article, we are currently forming a triangular cross-shareholding and are losing our sense of direction.
Looking at the current positions, there is one position that sells from $ 12000 on the right shoulder of the head and shoulders, and one position that sells back at $ 11500 after the neckline break.
Those short positions will be withdrawn (profitable) when they reach $ 11500, but first of all, I would like to see which one will exit this triangular cross-shareholding.
This week"Which way do you get out of the triangular cross-shareholding?"I will pay attention to.
This is the end of this week's market price analysis and review.
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