BitcoinShort
0-5 triangle trade setup (sideways but range is getting tight)
Updated
-Yurlo
We've seen a 2 thousand dollar pump from $17,500 - $19,500 since the run at ATH on December 1st 2020, so what does this mean?
Pumping to new highs and entering price discovery won't be easy, if we dumped to $18,300 from this range it would still be a higher low and at support on the trend line. Lose that and we fall much lower, break this triangle to the upside and we're less than $500 from ATH's which we havent seen since 2017/2018.
If i was short I'd have a s/l just above ATH's and if i was long i'd have a s/l just below $19,000 which is local support.
Enjoy your day and have an amazing week, I'll post again on Friday.
Cheers friends 👍
We've seen a 2 thousand dollar pump from $17,500 - $19,500 since the run at ATH on December 1st 2020, so what does this mean?
Pumping to new highs and entering price discovery won't be easy, if we dumped to $18,300 from this range it would still be a higher low and at support on the trend line. Lose that and we fall much lower, break this triangle to the upside and we're less than $500 from ATH's which we havent seen since 2017/2018.
If i was short I'd have a s/l just above ATH's and if i was long i'd have a s/l just below $19,000 which is local support.
Enjoy your day and have an amazing week, I'll post again on Friday.
Cheers friends 👍
Trade active
Invalidated if we hold above this level 
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.