Short
Perhaps the key trap to the 2nd knee of a flag
Happy Friday, Dear Swing Traders!
Indeed, the 4th of May 4-hour trap might be now the key one not only in terms of the nearest target but also concerning the end of a whole cycle. As we can see, we've got the true break of a massive correction channel to the 1st, we assume, knee of a "flag", the length of which - 36000 dollars. The price broke the lower border @37K, so in a correct irrational vision of the market we are to look aggressively at the potential final target of 5% of the market participants with the most massive money in their accounts. This goal - around 1K for 1 BTC.
Yours,
ICBF Swinger Dagmar
Indeed, the 4th of May 4-hour trap might be now the key one not only in terms of the nearest target but also concerning the end of a whole cycle. As we can see, we've got the true break of a massive correction channel to the 1st, we assume, knee of a "flag", the length of which - 36000 dollars. The price broke the lower border @37K, so in a correct irrational vision of the market we are to look aggressively at the potential final target of 5% of the market participants with the most massive money in their accounts. This goal - around 1K for 1 BTC.
Yours,
ICBF Swinger Dagmar
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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.