Im issuing a warning here, I don't see BTC pumping that easily from this triangle. Funding rates are getting crazy when we get to resistance and we won't pump if there are too many leveraged longs. Therefore I see 2 possible scenarios from here:

1) We fake break up and drop to the 4h triangle support at least
2) We slowly drop down from the triangle

If we get the second scenario I'll definitely get In a short position. When a bullish pattern breaks down we have a high chance of getting a continuation dump after that. It is because a lot of people are positioning themselves on the long side here thinking we get a continuation pump because of the bullish triangle. Therefore if we break down, a lot of longs will be underwater which will give us a lot of selling force.

This principle holds true for a bearish pattern which breaks up, ie, continuation of the up trend is likely

I wanted to thank you all for the awesome feedbacks on the BLACK FLAMINGO indicators! It's such a nice reward to see that you guys are winning scalps with it!

Just comment your Tradingview username and I will invite you!


Retrouvez ma liste de réseaux ici :

A bientot ;)

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