ninjabenja
Short

Two Bullish Bat patterns forming

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Grape trend indicator is telling us to stay short from about the $515 level, and we're watching GRIB for a reversal at resistance, or a break out to what will likely be more sideways. The Yellowish bat is the weaker of the two, having only a .37 'B' point retracement of the XA move. Bat patterns require a .382 or a .50 fib level retracement of the XA leg. The Red bat has a solid .50 'B' point and is where I'll be looking to get long with a smaller position on this trade. TP @ next structure resistance $494.

Both of these were over-ridden by a massive whale sandwhich, which took us straight sidways between a bid wall and a sell wall. Good news though, these patterns have been upgraded: see new chart.
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