BTC HAVING A HARD TIME
Updated
As expected, BTC failed to get a sustainable brekaout above the 9.000$ mark.
We got a retracement of almost 500$ over the past few hours.
Anyways, things are getting pretty interesting now and I'm still considering a bearish outcome to be the MOST LIKELY one.
However, I do NOT EXCLUDE a bullish outcome.
BEARISH OUTCOME
It looks like BTC has been forming a harmonic bat pattern and is still moving within the rising wedge.
Additionally, we could get some sort of a doubletop here.
If you want to short, make sure to watch how price behaves around the yellow zone (8.600$).
A sustainable breakdown would give us a solid short signal with the 1st target being at 8.250$ and the 2nd target being at 7.800$.
BULLISH
In case BTC manages to break ABOVE the rising wedge + 9.000$ resistance with high volume, I'm expecting 9.700$ to be the 1s target and 11.000$ to be the 2nd target.
We got a retracement of almost 500$ over the past few hours.
Anyways, things are getting pretty interesting now and I'm still considering a bearish outcome to be the MOST LIKELY one.
However, I do NOT EXCLUDE a bullish outcome.
BEARISH OUTCOME
It looks like BTC has been forming a harmonic bat pattern and is still moving within the rising wedge.
Additionally, we could get some sort of a doubletop here.
If you want to short, make sure to watch how price behaves around the yellow zone (8.600$).
A sustainable breakdown would give us a solid short signal with the 1st target being at 8.250$ and the 2nd target being at 7.800$.
BULLISH
In case BTC manages to break ABOVE the rising wedge + 9.000$ resistance with high volume, I'm expecting 9.700$ to be the 1s target and 11.000$ to be the 2nd target.
Note
Beautiful how this resistance keeps getting rejected.Note
You CAN short this.Personally, I won't, Volume could be much higher.
Waiting for it to fall through 8.600$ zone.
Trade active
Broke out while I was asleep...Thank God I placed a Buy Limit.Expecting Extension to 9.5-9.7$
Note
Move SL to profit.Near Target Zone
Trade closed: target reached
New Idea is on!
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