We broke out of the triangle briefly last night but bounced back off 12k. Momentum was not convincing and the daily candle closed red by a hair. Still, it's possible a breakout could be on the cards. I've redrawn a couple of lines on the wedge / triangle and for all I know we are just trending sideways for now. Divergence on the RSI (4H) but volume doesnt look great. Anything's possible with the bitcoin!
UPDATE: This short actually opened but the BybBit UI didn't show it at first.
I closed with 150% profit from 11850 down to 10200 when RSI was showing very oversold, a safe place to take profits
optimystery
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After 3 successive failed breakouts and redrawing of the triangle to become a wider wedge pattern, I changed to favour a short.
Actually wanted to keep both long and short open but that can be dangerous with stop hunting.
On the breakouts to the upside the Bulls seemed weak, and the bears stepped in with force each time.
For the short my conditional target was a bit too close to the limit price so it didnt open.
Interesting how the move was telegraphed with a couple of red candles and some volume before the dump. I probably should have just opened the short at market price..
Oh well, I missed out on some gains but also avoided losses :)
I closed with 150% profit from 11850 down to 10200 when RSI was showing very oversold, a safe place to take profits