BTC is now in a Symmetrical Triangle. Noobs will say this is the end of the rally, but I think we've got more upward space, this is just a much needed retracement after such a strong push upwards. Anyways, the 4H and 1H StochRSI are showing Oversold + we're seeing some Bull Divs on lower timeframes. As previously stated, I think we need to wait until the 1D Stoch hits the bottom and my previous trades have been killing it, but imo we're still bullish for the short-term. If you can't handle the chop, get out of the waters. However, if you're an experienced surfer then there is plenty of profits to be made.
We're on the TD9 of the retrace / drop downwards + bullish indicators showing another push up. This is a great place for a potential Falling Wedge to form and as such is a great little day-trade opportunity. Should it continue to tank, simply keep a tight-stop around and pick the position back up @ a lower price.
Using Fib Retracement, you can see that it hit the 0.236 Level before bouncing which also happened to be a the Triangle support which creates a strong base for a Falling Wedge support (+ A local double-bottom). This seems like a strong-ish play for a short-term bounce. My exit target is the 0.618 Fib Level since we dropped so fast and so low.
Keep an eye on market sentiment. I would link the tool I use on here, however haters have already started reporting my account and I was warned to not post links on here. So, if you'd like to learn about the market sentiment tool, hit me up on my Discord (site below) or catch it on Twitch (site below) while I'm streaming.
Cheers!
-Wolfie
We're on the TD9 of the retrace / drop downwards + bullish indicators showing another push up. This is a great place for a potential Falling Wedge to form and as such is a great little day-trade opportunity. Should it continue to tank, simply keep a tight-stop around and pick the position back up @ a lower price.
Using Fib Retracement, you can see that it hit the 0.236 Level before bouncing which also happened to be a the Triangle support which creates a strong base for a Falling Wedge support (+ A local double-bottom). This seems like a strong-ish play for a short-term bounce. My exit target is the 0.618 Fib Level since we dropped so fast and so low.
Keep an eye on market sentiment. I would link the tool I use on here, however haters have already started reporting my account and I was warned to not post links on here. So, if you'd like to learn about the market sentiment tool, hit me up on my Discord (site below) or catch it on Twitch (site below) while I'm streaming.
Cheers!
-Wolfie