Cryptos are stuck in a consolidation with very little volatility for about 5 days now, since surprising Tether news triggered flash rally across the board.

Major coins are giving us a bit of sign of the next big move approaching. Etherum, EOS, IOTA and NEO are sharing something in common. All of them point at approaching high volatility move by tracing big, symmetric triangle price action pattern. Annoyingly, with symmetric triangles we can't be sure whether the move will be up or down...however, what it does tell us is when. All of the majors above are set to break out around November 5th.

Etherum on November 4th

EOS - November 8th

IOTA - November 7th

NEO - November 6th

Charts above show daily price action. If you ask me, I think these triangles edges are a bit 'steep' in this time frame. Hence I think what will happen is, we will see a breakout around November 5th and a price move that will 'enlarge' or 'stretch' current pattern, but will not make the 'full' pattern target. What do I mean? Look at the picture below.

Let's say price broke out bullish and went slightly above previous highly. In this scenario we have several key trigger points: 1/Bullish price breakout from triangle 2/surpassing previous high 3/breaking above 200 day EMA. Pretty strong case for a bull. BUT...be cautious, as it may just be a new leg in our consolidation pattern.

Saying that...the upcoming breakout should be quite impulsive with a potential move of 13% - 15%...so be prepared and set your targets together with your stop limit orders - sudden moves can see sudden retracement, just like on October 5th.

Please up vote if you like this post!

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice. I do not take any responsibility for how you choose to apply this information.