BTC Daily - Diamond or Deep Pullback ?
Someone in chat suggested this was a Diamond pattern. More specifically Diamond patterns tend to be Top or Bottom "Stoppers" ... meaning this is where the big turn in the opposite direction happens. Could drop as much as the 1.618 line, in the high 70's.
However I think it is just a deep pullback, and some sideways movement, and PA will slowly make it's way to a new high.
Over all I think it is a Long for the trade.
I had difficulty placing a diamond pattern around the whole thing, and some technical problems with exactly meeting the diamond pattern requirements.
Well as time passes we will all find out.
Good Luck trading!!
However I think it is just a deep pullback, and some sideways movement, and PA will slowly make it's way to a new high.
Over all I think it is a Long for the trade.
I had difficulty placing a diamond pattern around the whole thing, and some technical problems with exactly meeting the diamond pattern requirements.
Well as time passes we will all find out.
Good Luck trading!!
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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.