BTC Setup for Macro Double Bottom?
Updated
Descending Wedge:
Current Trade Idea: Flip 42 to invalidate for the "we go higher" bias. Lose 37.3 for the "we go lower" bias.
Short Term: (LTF) Inverted tilt pennant or wedge? Lose 37.3 and see 35-33 (tilt pennant), flip 38.7 and see 42 tested (d.wedge)
Mid Term: Bear Flag, copied channel as is the rule, 23k peak low possible, reclaim 28 if BTC bounces from lower, reclaim 35 ( possible point of future break out)
Current Trade Idea: Flip 42 to invalidate for the "we go higher" bias. Lose 37.3 for the "we go lower" bias.
Short Term: (LTF) Inverted tilt pennant or wedge? Lose 37.3 and see 35-33 (tilt pennant), flip 38.7 and see 42 tested (d.wedge)
Mid Term: Bear Flag, copied channel as is the rule, 23k peak low possible, reclaim 28 if BTC bounces from lower, reclaim 35 ( possible point of future break out)
Note
Didn't get bounce to 42, rejected at 40. Inverted tilt pennant confirmed. Target for tilt pennant is 32.9. I expect a possible relief bounce from there. 23k-28k is still on the table in the long term.Trade active
1st target reached at 28.5k, I've got 25k as GoblinvilleNote
25.5k was tapped, underside test of 32.4, now testing bottom of ascending channel at 27k. needs to hold above 26.8 or test 24.4Note
Reclaim 24k to go long
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