BitcoinLong
I showed you the Long play. Now here is my projected road map
I should have placed these arrows in too for a visual of what I am expecting. Of course this isn't going to be exact but I show how I planned it to bounce off the fib (purple fibs) and will bang against the upper purple fib before the decline. So I still do expect 1 more upward movement before the dump. Be sure to listen for news because news will trump all TA. I wouldn't place any short below the next upper purple fib from here though and a long is pretty risky here, being between 2 fibs. Beware that there is lots of room for this to wick under the Triangle (see the red circle where I typed "wick")
(I call this a long (though I am short) because in the end, there will be a bull run after this hits the bottom of the triangle. I'm not longing until then. (though I have opened a long-hedge when it bounce off the lower fib. I plan on taking profits at the next upper fib and closing it when there is downward momentum.)
(I call this a long (though I am short) because in the end, there will be a bull run after this hits the bottom of the triangle. I'm not longing until then. (though I have opened a long-hedge when it bounce off the lower fib. I plan on taking profits at the next upper fib and closing it when there is downward momentum.)
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.