BTC did not take the new high to 14K as anticipated earlier. It went down and poked the lower end of triangle.
Path 1 (green):
5+3+5 EW, bouncing top and bottom of triangle before we break out and move towards new highs.
Path 2 (purple):
5 (already happened)+3+5 EW, moving to new lows around $7K before racing towards new highs.
Believe that CBOE Long position has a significant importance, but it can turn out to have the opposide affect, and BTC will go down new lows around $3K.
Make sure to have your stops in place.
Path 1 (green):
5+3+5 EW, bouncing top and bottom of triangle before we break out and move towards new highs.
Path 2 (purple):
5 (already happened)+3+5 EW, moving to new lows around $7K before racing towards new highs.
Believe that CBOE Long position has a significant importance, but it can turn out to have the opposide affect, and BTC will go down new lows around $3K.
Make sure to have your stops in place.
Note
And with EW instead of drawings. Note
Looks like that so far...
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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.