BTC - 05 May 2022
Updated
BTC
Pattern: Bear Flag
Condition: Finishing the wave D and going to wave E
Expectation: Expecting the Wave E would be Ascending Wedge, where it could possibly force to market capitulation or worst.
Invalidation: BTC break resistance and make base on top of the channel.
Reason: after FOMC, and FED rate increase to 1%, overall market is rebound, but DXY still holding above resistance 6y, and found support (invalidate if DXY break support and drop again).
Position Short-Mid Term: Bullish
Position Long Term: Bearish
Pattern: Bear Flag
Condition: Finishing the wave D and going to wave E
Expectation: Expecting the Wave E would be Ascending Wedge, where it could possibly force to market capitulation or worst.
Invalidation: BTC break resistance and make base on top of the channel.
Reason: after FOMC, and FED rate increase to 1%, overall market is rebound, but DXY still holding above resistance 6y, and found support (invalidate if DXY break support and drop again).
Position Short-Mid Term: Bullish
Position Long Term: Bearish
Trade closed: stop reached
LONG cancelled due the support channel has been breached and breakdown
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