Long

Bullish end of the week?

By UnknownUnicorn26369879

Updated

Possible cup and handle formed on BTC, let's see how it plays out. Break under the handle would invalidate this.

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Break above the handle (plane on chart) would validate it

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Updated the cup and handle accrodingly to the last price action. This pattern is still in play until we see a drop lower than middle of the cup or we crab to the side out of this pattern

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be aware that this pattern still allows the downfall to the middle of the cup and still be valid if it holds the low

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My idea here is not a buy or sell signal. Its jut a pattern that i am following at the moment and it can play out in both directions

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Pattern stil in play.

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Still floating in the handle. I would not open a trade until we can see a clear break under or over

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We broke under so it's invalidating my idea about cup&handle. Reversal from this zone is still possible and I would be cautious with short positions in the middle of this price action. Wait for pullback to 15800 to enter a possible new long. I would prefer to wait out this PA until it's more clear which direction we are going.

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A bullish scneario I see at the moment, a possible "Wyckoff accumulation" phase going on at the moment.

Bearish case is, we head down to our new low 14k with unforseen macro economic reasons.

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Dropping this here for future reference. A possible accumulation phase

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It is still possible that we are fulfilling the cup and handle patter, but I would be cautios as tomorrow we have the "Fed Chair Powell Speaks" and other imporatnt meetings that could alter the price to downside or upside. Keep it safe,

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Dangerous place to open a position, I would wait for more confirmations if we drop or rise from this level

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We have a lovely 4h candle close, could be a trend change to the upside, atleast to the upper triangle trendline. Wait for a break and retest over it for a nice long position to atleast 17k, or bearish case is we get rejected there again and continue the down move.

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Getting rejected once again from the top.

Expect possible crab or more downside until tomorrows events, fed speach and some other important meetings.

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Congrats to those who followed, profit taken. Cheers!

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Would like to see a healthy retest of the trendline we brouk out off for a possible more upside in the next days. If we break under it again, then this is not a sustainable move that i would add longs to.

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Just received a notification from a moderator that my ideas are not meaningfull and lack details.

"►Your publication lacks a meaningful description or analysis.◄
House Rule #1: Make ideas understandable"

Im not sure if i have to laugh here or what, seems kind rigged social platform, i never did this to gain followers or something else out of it but I did this to better myself as day trader and to keep myself accountable to my ideas, and yes that takes constant updating of my idea here but as I they informed me thats not allowed or i should make my ideas private. I am quitting posting here and deleting my account and just doing it solo as i have done before. Cheers and good luck to all, thanks for taking a look and i hope we can all learn something from this. ;)

UnknownUnicorn26369879

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