Long
Bitcoin Gold = USDT
I was hoping for a bull flag but there is not much activity and the volume decreased so I wonder... For now I have buy orders between 320 - 350. Maybe too high? If price breaks 390, I will cancel the buy orders and step right in. That would mean it is indeed a pennant bull flag, and the channel is not correct. Please let me know what you think. :-)
Note
After some more investigation I think this is a descending triangle, with the purple dot line representing the bottom of the triangle.Descending triangle pattern formed by buyers buy the stock at
constant prices, sellers sell the stock by lower and lower prices.
Or the market sentiment turns bearish. We may call it bearish
consolidation. Generally it is considered as continuation pattern.
Note
The bottom of the descending triangle is getting lower and lower. According some research there is now 64% change it will drop further and 36% it will break out and increase. I lowered my buy orders to +_ $300
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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.