Bitcoin – local price action
Hello, everyone!
After reaching the strong resistance and liquidity level of $45000 the Bitcoin price dropped a little bit and started the consolidation. We can see that it formed the symmetrical triangle. This type of patterns have 2 possible scenarios:
Scenario 1. The true breakout scenario. In this case the $46000 is the target according to triangle’s height. After that I expert the correction to the stop-losses and liquidations for the long positions zone ($40500).
Scenario 2. The current breakout is the manipulation and we will see $40500 next.
How to predict this? There is no way! It’s just the analytics, not the signal. The last long signal was at $36300 where I bought BTC and now I use this analytics to find the exit, but NOT the entry point.
Good luck!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
After reaching the strong resistance and liquidity level of $45000 the Bitcoin price dropped a little bit and started the consolidation. We can see that it formed the symmetrical triangle. This type of patterns have 2 possible scenarios:
Scenario 1. The true breakout scenario. In this case the $46000 is the target according to triangle’s height. After that I expert the correction to the stop-losses and liquidations for the long positions zone ($40500).
Scenario 2. The current breakout is the manipulation and we will see $40500 next.
How to predict this? There is no way! It’s just the analytics, not the signal. The last long signal was at $36300 where I bought BTC and now I use this analytics to find the exit, but NOT the entry point.
Good luck!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Get access to private PineScript strategies and turn script alerts into orders at your exchange account with easy-to-set up bots
Get free bot:
app.skyrexio.com
Get free bot:
app.skyrexio.com
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.