Running Flat or Double Top - Waiting for the breakout of BTC
After touching $18500 support, BTC touches $19888 resistance again.
This 4th the price retests $19888, proving this is a strong resistance.
In H4 time frame, potential model includes 2 cases
- Case 1: The current price is following the Running Flat corrective wave and the downside target will be $16900 after breaking down $18500 support.
- Case 2: A Double Bottom pattern is complete if price breaks out of the strong $19888 resistance and BTC continues the uptrend, target $23000-$25000
- Financial markets are simply a matter of probability. If you give a 100% claim, you are losing your chance to make money into other people's hands.
Conclude:
- For those who want high winrate, wait for the breakout points to enter the market.
- If you tend to be more adventurous and open up a small time frame, you will find attractive positions.
- Whatever school you belong to, always set stoploss cuz "It’s not whether you’re right or wrong, but how much money you make when you’re right and how much you lose when you’re wrong.” - George Soros
This 4th the price retests $19888, proving this is a strong resistance.
In H4 time frame, potential model includes 2 cases
- Case 1: The current price is following the Running Flat corrective wave and the downside target will be $16900 after breaking down $18500 support.
- Case 2: A Double Bottom pattern is complete if price breaks out of the strong $19888 resistance and BTC continues the uptrend, target $23000-$25000
- Financial markets are simply a matter of probability. If you give a 100% claim, you are losing your chance to make money into other people's hands.
Conclude:
- For those who want high winrate, wait for the breakout points to enter the market.
- If you tend to be more adventurous and open up a small time frame, you will find attractive positions.
- Whatever school you belong to, always set stoploss cuz "It’s not whether you’re right or wrong, but how much money you make when you’re right and how much you lose when you’re wrong.” - George Soros
