Bitcoin BTCUSD - Dead Cat Bounce
The other patterns I was following broke down - it's now looking like a dead cat bounce.
First target would make a double bottom, second target would be of equal length to the first leg down, and hit the previous consolidation point/fibonacci level.
First target would make a double bottom, second target would be of equal length to the first leg down, and hit the previous consolidation point/fibonacci level.
Note
Just wanted to add another thing to watch for in case it starts reversing (just want to be prepared for as many scenarios as possible):
Note
On the edge of my seat...Note
Looks pretty clear that it's going for the pennant:Note
Just updating for my records that it did turn out to be the pennant and already broke out!
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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.