BTC/USDT (4H) - Triangle or ZIGZAG ?
Hi, Traders and all kinds of Speculants :)
Today I bring you some idea to consider.
BTC reached point where most people can identify upper trendline of Triangle. (Check previous idea in link below).
1) Many consider it as Ascending Triangle and expect BTC will continue UP.
(Yes, I also see raising interest of institutions and retail for BTC to protect their money from governments = Russia, Ukraine / Canada, ... to name a few. )
BUT, Dont be so sure. TRIANGLE is continuation pattern and this one is in Downtrend regardles its shape.
2) Second point to consider is: wave "b" of triangle looks more like impulsive 5 wave structure.
Hence I bring you another EW count of chart for last 2 months...
Hopefully you trade safe, with good Risk:reward Rationd and use of Stop-loss.
If you DCA BTC for HOLDing, than dont mind this and just keep buying ;)
Today I bring you some idea to consider.
BTC reached point where most people can identify upper trendline of Triangle. (Check previous idea in link below).
1) Many consider it as Ascending Triangle and expect BTC will continue UP.
(Yes, I also see raising interest of institutions and retail for BTC to protect their money from governments = Russia, Ukraine / Canada, ... to name a few. )
BUT, Dont be so sure. TRIANGLE is continuation pattern and this one is in Downtrend regardles its shape.
2) Second point to consider is: wave "b" of triangle looks more like impulsive 5 wave structure.
Hence I bring you another EW count of chart for last 2 months...
Hopefully you trade safe, with good Risk:reward Rationd and use of Stop-loss.
If you DCA BTC for HOLDing, than dont mind this and just keep buying ;)
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