Maybe we'll run up to the .886 PCZ of the Bearish Bat before selling off and hopefully in the best bullish scenario, we'll test the geometrical trend as support before shooting up to higher highs. Just an idea. Most triangular patterns break out about 75% of the way through and we're at it. Just food for thought ladies and gents. Although, I will probably be offloading positions at geometrical resistance as well as the PCZ of the Bearish Bat. I will more than likely be opening a short at that area with coinciding variables to factor in of course.
Trade closed manually
I apologize for not keeping you guys updated, I have had quite a bit going on in life. Nothing bad atm, just some things going on. I closed my positions on BTC at around 10,200 for a decent gain. I closed my positions a day or two prior to the dump. I didn't see the dump coming, but I was seeing no strength nor follow through price action. So, I closed my positions and I made the right choice. I have still not opened a position in btc as I believe the selling could more than likely continue. It's not looking bullish right now whatsoever. You are testing $9,600/650 area as resistance after an impulse down. This looks very much like a Bear flag. So, maybe we'll dump one more time creating bullish divergence. I don't believe the descending triangle pattern will play out to the downside just yet, but it very well could.I am not in a short atm either. I am not in any position in btc as I am awaiting further technicals
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.