BTC is forming a contracting\symmetrical triangle with the momentum on the downside (more likely)
As per chart, the target area is the height of the triangle matches the next level support.
It would be important to keep an eye out on the RSI level. A Bearish Divergence will also help confirm.
Finer details as the chart progresses
As per chart, the target area is the height of the triangle matches the next level support.
It would be important to keep an eye out on the RSI level. A Bearish Divergence will also help confirm.
Finer details as the chart progresses
Note
So I had 2 scenario's at play, and I chose the above rather than this.and just got back home and it was perfect to the mark. That sucks because I cashed out earlier.
Now I have to see if the above scenario is still valid. On the 4 hrly, a big rejection so maybe its still valid.
Note
4 HRLY chartDaily chart
Note
Note
Very difficult to say at this piont, I would like to see the RSI as it gets closerNote
Chart updatedTrade closed: target reached
Just for completion of this particular post. End result was another harmonic move which I jumped in. I would love to keep updating my posts as I make pivotal changes in my direction however its too much work.As per my next post, it was what I was expecting, a bigger harmonic than this, which ended up at 9900.
Note
For the record, we are in a very bullish pattern on the 4 HRLY.
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This community has signals now but with no risk management comms.
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This community has signals now but with no risk management comms.
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.