Bitcoin: BTCUSD Almost BS free version
The way this is behaving now, sliding down the upper parallel of the continuation pattern is still more bullish than bearish, though doesn't look it, granted...it can spend a while yet grinding lower but so long as it finds support from 6450 pivot this is, surprisingly, looking like it might well make a break to the upside yet. This will confound bears, obviously, and stops will start flying, again. That''s why we're flat watching this stooge around drifting down the upper little parallel. If it dips down to 6450 it's a speccy buy for day-traders with a stop tight under at 6400. But it still needs to break above the stonger potential dynamic resistance line at 6550 and then hold on retest (as laboriously explained above and or in previous comments for other traders to consider going long again. this process requires the patience of a saint on a fishing expedition. If you got it, stay with it a while. It could just pay off. And, like fishing, we may also catch nothing.
Downside is trickier to judge right now unless day-trading between the lines - don't think it's safe to short again unless 6300 gives way. and at moment the pattern is not saying bearish, just boring . Be Lucky! patient too
And maybe drop the the stop to under 6400 by 10 points if going long from here. riskier than waiting for break and confirming signal at 6550 but higher reward.
The way this is behaving now, sliding down the upper parallel of the continuation pattern is still more bullish than bearish, though doesn't look it, granted...it can spend a while yet grinding lower but so long as it finds support from 6450 pivot this is, surprisingly, looking like it might well make a break to the upside yet. This will confound bears, obviously, and stops will start flying, again. That''s why we're flat watching this stooge around drifting down the upper little parallel. If it dips down to 6450 it's a speccy buy for day-traders with a stop tight under at 6400. But it still needs to break above the stonger potential dynamic resistance line at 6550 and then hold on retest (as laboriously explained above and or in previous comments for other traders to consider going long again. this process requires the patience of a saint on a fishing expedition. If you got it, stay with it a while. It could just pay off. And, like fishing, we may also catch nothing.
Downside is trickier to judge right now unless day-trading between the lines - don't think it's safe to short again unless 6300 gives way. and at moment the pattern is not saying bearish, just boring . Be Lucky! patient too
And maybe drop the the stop to under 6400 by 10 points if going long from here. riskier than waiting for break and confirming signal at 6550 but higher reward.