Good Morning or Evening depending on where you are reading this from, I hope you were all profitable in your trades yesterday.
Today, well it doesn't look as optimistic as we have been in previous days, the rising wedge has been confirmed and is bearing (get it) over our shoulders like the midday outback sun. Short term we may have a few opportunities to profit from short-term longs as it rises along the wedge but be cautious because the bears are waiting in the shadows, ready to pounce. While we have broken the ALT downtrend line, we still need to be careful. I am out of any trades until I can get a little more certainty and a little confirmation of price direction. BReaking the top of the rising wedge will be a significant bullish sign and I would be laddering in my buys from there, the same will be said if we break and close below the bottom of the wedge.
I will update as we get some new information
Good Luck
G'day
Thanks for dropping by, hopefully, you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Today, well it doesn't look as optimistic as we have been in previous days, the rising wedge has been confirmed and is bearing (get it) over our shoulders like the midday outback sun. Short term we may have a few opportunities to profit from short-term longs as it rises along the wedge but be cautious because the bears are waiting in the shadows, ready to pounce. While we have broken the ALT downtrend line, we still need to be careful. I am out of any trades until I can get a little more certainty and a little confirmation of price direction. BReaking the top of the rising wedge will be a significant bullish sign and I would be laddering in my buys from there, the same will be said if we break and close below the bottom of the wedge.
I will update as we get some new information
Good Luck
G'day
Thanks for dropping by, hopefully, you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Comment:
Significant volume decrease as we rise, is also not a good sign for future bull run
Comment:
4hr looks more Bullish in a longer term with BTC moving into the end of a symmetrical triangle but notice where the bottom of the lower trendline is as we move closer to the end, it is around 9500 - 10500, which puts our short-term analysis dead on.
Comment:
8 hr comfirms
Comment:
Confidence is growing in breaking out of the triangle north before the rising wedge comes into play, which will give us plenty of room to breath in a long position.
Keep vigilant, I have started to ladder in, this makes it easier to get out with a small loss if things go pear-shaped.
Keep vigilant, I have started to ladder in, this makes it easier to get out with a small loss if things go pear-shaped.
Trade active:
This recent trend line seems pretty solid if it holds it will walk us out of the triangle into a very bullish territory and I would say some serious FOMO, keep watch and be ready if you are not already in, it can still turn at a moments notice.
This recent trend line seems pretty solid if it holds it will walk us out of the triangle into a very bullish territory and I would say some serious FOMO, keep watch and be ready if you are not already in, it can still turn at a moments notice.
