Long

Ascending triangle forming on btc, Still bullish.

Updated

Price has consistently failed to break the 11.1k level on the daily.

Ascending Trinagles are a bullish chart pattern - We saw one forming back when btc was in 4k area, Now its forming at the the current price range of 11k-13k.

IF it breaks above we could be looking at bitcoin TESTING ALL TIME HIGHS!

But nothing is certain in trading - So DYOR as well!

Main level to be aware of 11.1k We close below this level on the daily for any reason - This trade idea would be invalidated.

Wish you all good trading and profits!

Note

The green zone b/w 10.9k and 11.1k is the ideal buy area to manage risk.

Note

This idea is only valid as long as btc stays above 11.1k on the daily.

Note

So we wait. 2 more hours left before daily candle. If btc closes below 11.1k, It means this trade setup is not valid and it would imply a change in trend.

But lets wait and watch what magic happens in the next 2 hours.

Note

and voila! price bolted up from 10.8k -> 11.3k!! scary good stuff if you can trade the 1 min charts. ;) Long from 11,001! Plan to hold for a wile hopefully!

Note

Bullish divergence on 4h. If btc continues to hold 11.1k on daily charts expect more upwards movement!

Note

Sigh...The market makers simply dont want us to have any profits at all it seems. Yet another day of waiting to see where the daily CLOSES. On my previous position i got stopped out at 11.1k from my long @ 11k, Now currently just waiting to re-enter based on price movement.

Again, If daily breaks support of 11.1k - I have no problems turning bearish immediately.

Order cancelled

Well that was an emphatic response from price action saying we have found the local top. Now its time to be bearish.

one-two

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