I admit, this is very sloppy drawn, but I saw a lot of even sloppier charts in the last few days, while we are approaching this triangle apex and the main speculation is will it go to 3k or to 10k (in 1 day). (keep in mind that those (c) and (A) are drawn away in purpose, so it is more readable).
BTC was in uptrend, made a-b-c correction, and started to bounce within this large triangle. One can argue if this is descending or symmetrical one (the pink one is a little bit more symmetrical then the blue one). For sure it's not perfectly shaped, dot-connected one. But with a little imagination it can do its job.
We can chart ABCDE pattern, which had a chance of breakout and continue uptrend, but was rejected (the red dashed arrow). There are more letters available, and BTC chose to use some more. Nevertheless, this will have to finish once and decide where to go.
I'm "permabull" (which is not good all the time, but I learned to manage my trades with stop losses (the hard way) and I don't trade large amounts) so I'm bullish on BTC. To be honest, I'm hardly waiting for breakout in any direction, so these frustrating times end and we can trade normally again :)
I'm not educated trader nor in any other "financial area". I just enjoy learning and exploring new things, so don't take this writing as advice of any kind.
BTC was in uptrend, made a-b-c correction, and started to bounce within this large triangle. One can argue if this is descending or symmetrical one (the pink one is a little bit more symmetrical then the blue one). For sure it's not perfectly shaped, dot-connected one. But with a little imagination it can do its job.
We can chart ABCDE pattern, which had a chance of breakout and continue uptrend, but was rejected (the red dashed arrow). There are more letters available, and BTC chose to use some more. Nevertheless, this will have to finish once and decide where to go.
I'm "permabull" (which is not good all the time, but I learned to manage my trades with stop losses (the hard way) and I don't trade large amounts) so I'm bullish on BTC. To be honest, I'm hardly waiting for breakout in any direction, so these frustrating times end and we can trade normally again :)
I'm not educated trader nor in any other "financial area". I just enjoy learning and exploring new things, so don't take this writing as advice of any kind.
Comment:
This one id going quite nice. I'll set buy order around 6k1, stop loss will be set later - almost before every rally there is a bigger dip, which could trigger narrow stop loss and I don't want to be there.
Comment:
This could be one of the latest dumps.