It seems to me now that Bitcoin is undergoing an even bigger fractal than I originally thought.
These are based on a diamond formation (which is bearish in a majority of circumstances) combined with a very similar patterns of peaks and troughs on the run-up to the diamond form.
Multiple options for how to play this. I'm considering attempting to play short at 50,000 if Fractal 2 works out how Fractial 1 did.
If this works out as Fractal 1 did, then we should see an even smaller version of the diamond form on the finer (15m-1h) scales which should help to confirm directionality.
If you're feeling bold you could probably long this up to 50k as well.
As always, monitor the situation which is v.volatile and naturally trade safe.
These are based on a diamond formation (which is bearish in a majority of circumstances) combined with a very similar patterns of peaks and troughs on the run-up to the diamond form.
Multiple options for how to play this. I'm considering attempting to play short at 50,000 if Fractal 2 works out how Fractial 1 did.
If this works out as Fractal 1 did, then we should see an even smaller version of the diamond form on the finer (15m-1h) scales which should help to confirm directionality.
If you're feeling bold you could probably long this up to 50k as well.
As always, monitor the situation which is v.volatile and naturally trade safe.
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Related publications
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.