BTC Price following Elliot Wave count so far.
BTC Price following Elliot Wave count so far.
Be patient. I had a stop loss trigger at $8550 because it looked like it was going to break the descending triangle downward, and I had to buy back in at a higher price.
The key lesson for me is that when you draw a pattern, sometimes you have to increase the margin of error. I shifted the horizontal line in the descending triangle downward when the price broke the horizontal line but jumped back up again. BTC has so many fake outs. Can't make assumptions.
Today was a weird sideways trading day. Very very easy to make mistakes, especially if the price is in a descending triangle and the bottom of the triangle is below your buy-in price.
Be patient. I had a stop loss trigger at $8550 because it looked like it was going to break the descending triangle downward, and I had to buy back in at a higher price.
The key lesson for me is that when you draw a pattern, sometimes you have to increase the margin of error. I shifted the horizontal line in the descending triangle downward when the price broke the horizontal line but jumped back up again. BTC has so many fake outs. Can't make assumptions.
Today was a weird sideways trading day. Very very easy to make mistakes, especially if the price is in a descending triangle and the bottom of the triangle is below your buy-in price.
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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.