PHB Trade setupHere's a quick look at the PHB 1 hr chart. As we can see, the price has been forming a bigger descending triangle and the best entry would be when the price breaks above the triangle.
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The idea is: Buy when the price breaks above the triangle and take profits at the levels shown in the chart.
Targets:
1. 1.47$
2. 1.6$
3. 1.75$
4. 1.85$
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What are triangles when it comes to trading?
Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure.
3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
PHBUSD
PHBUSD Break long term high CCI level 6h PHB USD breaking above.
After a rough beginning of the year we are starting to see signs of a long-term reversal.
After consolidating below previous level we are seeing a rise above previous resistance.
This is the first measurable occurrence of a breakout over consolidation since the redenomination.
PHBBTC (05/05/2021)On the 1W chart, the price of PHBBTC has formed a falling wedge, the border of which the price has already successfully crossed.
Also, the upward movement was accompanied by increasing trading volume, which indicates a strong bullish sentiment.
On the 1D chart, the PHBBTC price has corrected to the level of 50% by Fibonacci, where solid support has been established.
At the moment, a possible initial growth impulse has been formed, which may become the beginning of the continuation of growth.
We recommend buying PHBBTC at current prices to keep the position above 0,000001.
