Breakout of the triangle pattern. but hold till $6200 as i mentioned in previous briefing.
Then, let's analysis BTC shortly.
A. briefing
. Bearish Engulfing Candle on Daily
. Breakout of the triangle
B. Daily Chart
Bearish Engulfing Candle -> possible more drop
C. 4H Chart
breakout of the triangle and now, it is rebounding from 0.5 Fib. shortly
There're 2 scenario
a. short rebound -> possible to drop additionally after block from lower base of the pattern
b. formed Box(Rectangle)
D. Strategy
For Aggressive traders : buy bottom of box and then sell top of the box or lower base of the triangle
For Conservative traders : Buy when it is over box
If you already bought BTC by Buy signal, hold until $6200.
Trade safely~
If you think my idea is helpful for you, Click '+Thumb up, +Follow'
Then, let's analysis BTC shortly.
A. briefing
. Bearish Engulfing Candle on Daily
. Breakout of the triangle
B. Daily Chart
Bearish Engulfing Candle -> possible more drop
C. 4H Chart
breakout of the triangle and now, it is rebounding from 0.5 Fib. shortly
There're 2 scenario
a. short rebound -> possible to drop additionally after block from lower base of the pattern
b. formed Box(Rectangle)
D. Strategy
For Aggressive traders : buy bottom of box and then sell top of the box or lower base of the triangle
For Conservative traders : Buy when it is over box
If you already bought BTC by Buy signal, hold until $6200.
Trade safely~
If you think my idea is helpful for you, Click '+Thumb up, +Follow'
Note
As i mentioned, BTC is blocked by lower base of the triagnle. it can be 1st target for Aggressive traders. Check it is going up more or down under box.
Note
going up and stay over 50EMA on 4H.
if you do 'box trading', upper side of triangle can be Sell point and if goes up more, top of box can be Sell point, as well.
Note
Keep moving sideways for about 1 week.
maybe, this is because of ETF approval. in this situation, new idea or new briefing is meaningless.
Focus on ETF approval and breakout of Rectangle.
Note
[imgae]Suddenly Breakout up-ward. >0< Check out closing price.
Note
If it retrace to blue line, can buy BTC using AB=CD trading technique.
Note
Change becomes narrow and then being formed triangle pattern.
Entry by AB=CD is still valid strategy.
This is the end of idea.
if you got help from my idea, click +Agree, +Follow.
Thanks.
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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.
Related publications
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.