BTCUSD has been consolidating for the entire week within this ascending triangle, showing bullish pressure. However, I believe that this is just a trap considering current economical events. People are still flocking to gold as a safe haven as cryptocurrency has yet to establish itself amongst the older audiences. Hence, we may see the ascending triangle fail. The setup will be invalidated if the resistance up top is breached.
Please do not risk more than 1% per trade!
If you like the idea, please help like the post and comment down your thoughts below! I would love to hear your thoughts!
Please do not risk more than 1% per trade!
If you like the idea, please help like the post and comment down your thoughts below! I would love to hear your thoughts!
Trade active
Trade is active and in good profits!Note
TP1 has been hit!Trade closed: target reached
TP2 has been reached! Remaining position sl has been shifted to BE. We should be pulling back for a bit now before attempting for TP3Note
Price has pulled back to retest the trendline. Possible reentry of shorts over here but exercise caution. If we break back up into the uptrend, we can forget about TP3.
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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.