Watching for a breakout of ascending triangle but being cautious of the TD7 hourly candle. If the break out extends beyond two hours we may pull back to confirm or adjust the diagonal line. Break out should take us close to $30k and the 1.618 Fib ~$29.9k. From there I will be watching for a top and TD9 sell Monthly to start. Friday will be the TD9 sell daily as well. RSI monthly is over bought and cool down/sell off period should be coming soon.
Note
Looking at the lower level, 10 minute, I'm going to raise the breakout line just slightly... We are on it now. Note
Just a quick update. I am still in this trade. While it has not gone as planned, I'm watching for the 4hr TD9 selloff to complete and possibly a larger ascending triangle with a target above of $30K.If this plays out, I'll be watching for a wick on the TD9 daily sell candle between the top ~
31K and the 1.618 Fib ~$29.9K to kick off the monthly TD9 sell for one to two months of downside/cool off. Order cancelled
For tax reason I don't want to carry this trade into next year. Closed.Will reevaluate tomorrow.
Happy New Year!
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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.