BTCUSD Good margin trading opportunity

Updated

BTC is moving inside a symmetrical triangle which is also part of a big bearish pennant. Personally I think it is more likely that it will break down and drop further to around 5k8. However, it is also possible that it will breakout and create a double bottom together with the 6k4 low. If so, the first resistance it needs to break is 7k5.

Anyway, once the breakout/down is confirmed with huge volume, you can safely chase the pump/dump. Good opportunity to make money. Good luck!

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This price level has attracted lots of big buyers. Now it's forming another symmetrical triangle under the big one. Watch for another breakout/down.

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By the way I have closed my short position with good profit. I have bought most spot coins that I planed to buy. I am confident I can make profits from buying now even if it dips further to 5k8. I think the bulls are almost as strong as bears right now. I would just stay out and watch the fight.

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Could go either direction. The chance that it drops again is higher. But I wouldn't long/short it until see the breakout/down.

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Now it is moving on the edge of the giant falling wedge. A breakout could send it to as high as 8700.

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I would not trade until the breakout is confirmed.

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I think the breakout is valid. The final target is around 8800. However, we have lots of resistance between now and the target. The nearest ones are 7250, 7500, and 7700.

Callmepope

We don't trade patterns. We draw them.

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