A descending triangle has formed and volatility is dropping. Bitcoin will fall below $8000.
Note
We got it bois. So brutal it to look at.Trade closed manually
My Bot has closed this position for me. I think it made the right decision. Sentiment went from people calling for $20k to $4k in less than a day. Closed trade with a nice 17% profit. Note
Judging by this weak consolidation, it looks like another move down to the original price target is likely.Note
Ok That looks like it was about it. Just short of the target. Lots of profit to go around though. Now I'm looking for a very fast bounce back to where it came from.
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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.