Descending triangle vs tripple bottom.
Hi people,
I just have a new account & like to share my idea at 4h timeframe.
Actualy, we can see a bearish divergence near tripple bottom pattern, with huge bearflag.
Which is not the best bulls scenario. So it´s a battle between descending triangle vs tripple bottom . Bulls vs Bears.
Right at top of bearflag acting EMA50 as securing resistance, very hard to break through with this small volume .
I think, casual people went all in higher and now have no funds to buy dips.
Only more skilled traders remained to guarding bull postitons.
So we´ve got 2 options:
1: BTC jump will make jump from double bottom and will try to break above descending triangle.
2: Whales will short ( = trade down ) huge amounts again & torture price lower ( At least 5600-5800$ )for oportunity start new bullrun.
The lowest point we can reach in my opnion is 4800-5000$.
Hovewer, it will be very quick and probably most people never catch this moments.
So I rather not waiting only for it...
It will happen a " sell panic " automaticaly, because people will think it never reach high levels again.
But top investors waitin ´ for that moments of course. They buy low and sell high.
I can´t know, how market figure out and which direct will choose. Everybody guess something different.
My strategy is don´t buy everything in same moment. I like easy patterns and basic strategies.
That´s all.
Mario Emvo.
*This is not a financial advice.
I just have a new account & like to share my idea at 4h timeframe.
Actualy, we can see a bearish divergence near tripple bottom pattern, with huge bearflag.
Which is not the best bulls scenario. So it´s a battle between descending triangle vs tripple bottom . Bulls vs Bears.
Right at top of bearflag acting EMA50 as securing resistance, very hard to break through with this small volume .
I think, casual people went all in higher and now have no funds to buy dips.
Only more skilled traders remained to guarding bull postitons.
So we´ve got 2 options:
1: BTC jump will make jump from double bottom and will try to break above descending triangle.
2: Whales will short ( = trade down ) huge amounts again & torture price lower ( At least 5600-5800$ )for oportunity start new bullrun.
The lowest point we can reach in my opnion is 4800-5000$.
Hovewer, it will be very quick and probably most people never catch this moments.
So I rather not waiting only for it...
It will happen a " sell panic " automaticaly, because people will think it never reach high levels again.
But top investors waitin ´ for that moments of course. They buy low and sell high.
I can´t know, how market figure out and which direct will choose. Everybody guess something different.
My strategy is don´t buy everything in same moment. I like easy patterns and basic strategies.
That´s all.
Mario Emvo.
*This is not a financial advice.
Note
Nice descending triangle breakout candle. Everybody at buyside waiting for next 4h candle to confirm.
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.