BTC USDT - Will we stay in the pattern or exit from its bottom.
Updated
Hey traders,
Ascending and descending Triangles work best on longer periods like the one we have been in .
Think of them as a springs, they consolidate and build pressure of a previous pattern and shoot in the continuation of a greater movement most the time.... scrunching into a fine point before launching at full force in continuation.
Remember this is a percentage game , the percent chance this will fall based on my TA is only 64-72 percent depending on time frame.... we still have a little bit of the pattern to go but we are near the end of it so it can take off early.
some things to watch, SPX SPY NASDAQ : Friday we were follwing this tik for tik
Dont enter the short until after it breaks the formation , put an auto buy in place.
Remember a pattern is not a defined pattern till after its confirmation up or down from it.
This means we can see a triangle , see it being stuck inside it but we dont know for sure if thats what it was till past tenst we can only assume and project based on data and statistics in similar conditions.
Trade at your own risk.
*if you wish you can follow me for updates.
Ascending and descending Triangles work best on longer periods like the one we have been in .
Think of them as a springs, they consolidate and build pressure of a previous pattern and shoot in the continuation of a greater movement most the time.... scrunching into a fine point before launching at full force in continuation.
- We are in a precarious place right now, we have been in a triangle of our own and are gonna get slammed up or down . There are good reasons to be on the sidelines or long and short so we are going to have to be carefull in our choices.
- 8 times we tested the bottom of this pattern we bounced back , but this time is not the same, we are loosing volume as its trying to stay above the pattern ..... usually this indicates a fall .
- The previous direction was upwards, but the greater pattern we have been in has been a downwards path with a short bounch to our triangle we are living in now.
- slight bearish divergence forming on daily
Remember this is a percentage game , the percent chance this will fall based on my TA is only 64-72 percent depending on time frame.... we still have a little bit of the pattern to go but we are near the end of it so it can take off early.
some things to watch, SPX SPY NASDAQ : Friday we were follwing this tik for tik
Dont enter the short until after it breaks the formation , put an auto buy in place.
Remember a pattern is not a defined pattern till after its confirmation up or down from it.
This means we can see a triangle , see it being stuck inside it but we dont know for sure if thats what it was till past tenst we can only assume and project based on data and statistics in similar conditions.
Trade at your own risk.
*if you wish you can follow me for updates.
Note
there was a quick drop to the mid 9200 range and a quick reversal to the old short term channel .... bull run or bull trap ? lets see what happensTrade active
Check 1 hr chartwe are in a declining pattern confirmed time and time again
Note
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