BitcoinUpdated BTCUSD - Consolidating & Entry Plan
Current situation:
I can see two patterns in H1 chart. Triangle and harmonic pattern. I don't know what is the name for that pattern but I use 78.6% at target for Point D.
Short Term Trend: Consolidate
Mid Term Trend: Bullish
Trade Plan:
Go long if break triangle. Possible pattern if not break triangle is TRIPLE TOP.
Get ready to long when it reach Point D of harmonic pattern.
Put SL is a must for good MM.
I can see two patterns in H1 chart. Triangle and harmonic pattern. I don't know what is the name for that pattern but I use 78.6% at target for Point D.
Short Term Trend: Consolidate
Mid Term Trend: Bullish
Trade Plan:
Go long if break triangle. Possible pattern if not break triangle is TRIPLE TOP.
Get ready to long when it reach Point D of harmonic pattern.
Put SL is a must for good MM.
Note
As BTCUSD breakdown the triangle. Triangle pattern is invalid now.As suggested by Menhdez, the pattern is bat. So the latest chart is as follows:
Happy trading.
Note
Pattern Update : Possibility to become Gartley.
Bitcoin move in channel. Possible to breakout.
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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.