As you may heard from the hype around BTC almost breaking ATH ( candle stick didn't fill) (bull trap) whatever u call it. If u look at BTCUSD history every major move requires a price correction ( take a look at it for yourself). My correction bias is around 7-8k area then blossom to have enough momentum to break ATH and go beyond. Right now I have a few short position. You could see a rising wedge pattern and maybe perhaps a double top on the 4h TF. If we plot a Fibonacci in the 4h TF lord behold the 78,6% which looks like its holding for now. I don't see BTC breaking ATH right since the futures contract expired last Friday ( November 27th) now im assuming the big players such as institution since they took profit almost at ATH they will bring the price down to correct it .
Trade active:
Currently have a active order as I previously mention. This could be a great RR if it plans out how I assume 1-18 RR %
Comment:
Im sorry in advance if my graph looks a bit mosh up or confusing since im still new in trading and still and always will be learning. Please don't hesitate do leave a comment on your bias or even see if I did anything wrong which u don't agree. #Lets shine together
Trade active:
(UPDATE)
Price currently just broke the rising wedge pattern and came back and retested on the 4h TF.
Lets see where this leads us too
Price currently just broke the rising wedge pattern and came back and retested on the 4h TF.
Lets see where this leads us too
Comment:
(UPDATE-2)
Price nicely reacted to rising wedge pattern and came back to retest the trend line.
At the moment im in profits as u could see but my overall bias stays the same the correction of price reaches around 7-8k.
Hopefully u benefit from this trading idea
Price nicely reacted to rising wedge pattern and came back to retest the trend line.
At the moment im in profits as u could see but my overall bias stays the same the correction of price reaches around 7-8k.
Hopefully u benefit from this trading idea
Trade active:
UPDATE-3
Currently looking at the BTCUSD situation I see two possible scenario.
1: BTCUSD in a semtrical triangle which might lead to price push higher to maybe perhaps 20500 before the bears kicks in.
2: BTCUSD also in a descending triangle (3 or 4h TF) which might lead to a bearish rally to price correct it self at 6-7k area
Neither less imma keep my order in
Currently looking at the BTCUSD situation I see two possible scenario.
1: BTCUSD in a semtrical triangle which might lead to price push higher to maybe perhaps 20500 before the bears kicks in.
2: BTCUSD also in a descending triangle (3 or 4h TF) which might lead to a bearish rally to price correct it self at 6-7k area
Neither less imma keep my order in
Trade closed manually:
cleared 90% of profit due to expecting price to have one last bulll rally to liquidate early shorts stop losses.Which will also lead to a more powerful bearish rally in the following days.
Comment:
lol
