BitcoinUpdated Will we break up of the rising wedge, or break down?
As I have been trading TD sequential for some time now, I am partially LONG on Bitcoin but managing my trades with very tight stop losses.
If we wish for parabolic movement, we should be above $7,400 - $7,500 for price predictions $9,000 and above. Other than that, you could say buying Bitcoin at its current levels is no different to hitting the button on a slot machine.
I remain overall bearish on Bitcoin's long-term movement at the moment unless we break upwards towards $7,400 - $7,500, because we would be too close the all time high to simply break down. I will keep my intraday setup still, unless stopped out.
Red/Orange = Bearish
Green = Bullish
If we wish for parabolic movement, we should be above $7,400 - $7,500 for price predictions $9,000 and above. Other than that, you could say buying Bitcoin at its current levels is no different to hitting the button on a slot machine.
I remain overall bearish on Bitcoin's long-term movement at the moment unless we break upwards towards $7,400 - $7,500, because we would be too close the all time high to simply break down. I will keep my intraday setup still, unless stopped out.
Red/Orange = Bearish
Green = Bullish
Note
possible break out of rising wedge ... neutral zoneNote
BEWARE: WE could be apart of a corrective phase of an elliot. If this is true, we can go lower tomorrow! Readjust position size!Note
missed target, embrace for [u]potential[/u] impactTrade active
it is hard to hypothesize where we may head to nextNote
see new analysis. we are currently long.
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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.