Here we are again at a major deciding point for Bitcoin.
While Bitcoin hasn't been performing well, it certainly has been following the textbook patterns perfectly.
The most recent pattern that is about to confirm is a major one, and that is a double top.
We have tested 11.7 twice and failed. If we close the day below the neckline of those two attempts, the double top is confirmed and the target becomes 7,500.
However, if we close the day above the neckline, then we just might rebound from here. If you buy dips, make sure you set a stop loss below the neckline, I'd recommend 8,949 if you can afford it.
While Bitcoin hasn't been performing well, it certainly has been following the textbook patterns perfectly.
The most recent pattern that is about to confirm is a major one, and that is a double top.
We have tested 11.7 twice and failed. If we close the day below the neckline of those two attempts, the double top is confirmed and the target becomes 7,500.
However, if we close the day above the neckline, then we just might rebound from here. If you buy dips, make sure you set a stop loss below the neckline, I'd recommend 8,949 if you can afford it.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
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.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
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.