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Bitcoin protracts sideways inside the embedded contracting triangle formed on H1 & H4.
* In our previous review, we issued a Sell signal for BTC based on the Double Top pattern formed on H4:
* However, the level of $9,300 remains sufficiently strong and currently we observe a struggle between Bulls and Bears in a very tight range.
* Hence, we should make an adjustment to our previous analysis, assuming that a trade should be initiated only after a break-out of one of the (colored red) triangle's boundaries.
* While our mid- to long-term projection is still Long, we don't deny an intermediate alternative of the price correction to $8,500 - $8,600 level.
General trade guideline
Buy or Sell the break-out of the red triangle.
Target: the boundaries of the green channel.
Stop-loss: 100 b.p.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Bitcoin protracts sideways inside the embedded contracting triangle formed on H1 & H4.
* In our previous review, we issued a Sell signal for BTC based on the Double Top pattern formed on H4:
* Hence, we should make an adjustment to our previous analysis, assuming that a trade should be initiated only after a break-out of one of the (colored red) triangle's boundaries.
* While our mid- to long-term projection is still Long, we don't deny an intermediate alternative of the price correction to $8,500 - $8,600 level.
General trade guideline
Buy or Sell the break-out of the red triangle.
Target: the boundaries of the green channel.
Stop-loss: 100 b.p.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
