BSV/USD - Shitshow continues (Thanks for 700 Followers)
Updated
Hello friends! As much as i hate trading heavily manipulated (shit)coins, we do have a nice trading opportunity with Bitcoin SV (BSV/USD).
The price is consolidating in a Bullish Pennant. The decreasing volatility is pointing towards a breakout of this pattern (which also appeared before).
It's important to notice that we do not trade inside the pattern. We trade the breakout, which is less risky.
Therefore, we need the price to hit our Entry level, which also confirms a breakout of the pennant.
Our Stop Loss is located around yesterdays low - i prefer having a tight stop loss when something is peaking at 500% during 2 weeks.
Our target is located above our previous high.
We need volume for a breakout. I don't expect retail traders to jump on Bitcoin SV during a breakout. This will more likely be backed by random (shit)news and wash trading.
Let me know what you think!
cheers,
cryptobuller
The price is consolidating in a Bullish Pennant. The decreasing volatility is pointing towards a breakout of this pattern (which also appeared before).
It's important to notice that we do not trade inside the pattern. We trade the breakout, which is less risky.
Therefore, we need the price to hit our Entry level, which also confirms a breakout of the pennant.
Our Stop Loss is located around yesterdays low - i prefer having a tight stop loss when something is peaking at 500% during 2 weeks.
Our target is located above our previous high.
We need volume for a breakout. I don't expect retail traders to jump on Bitcoin SV during a breakout. This will more likely be backed by random (shit)news and wash trading.
Let me know what you think!
cheers,
cryptobuller
Note
Breakout is now unlikely to happen!
Strategies, Insights & Education: t.me/KOLAcademy
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