Bitcoin - Rising Wedge, Bearish Divergence, & Cup & Handle?
Hello Traders,
Great end of the week we had, and greater week ahead of us.
On this chart, we now have a rising wedge, a bearish divergence, and a potential cup and handle pattern forming.
Downside Breakout Target:
1. Golden 618 Ratio Fib Level @ $9479
2. 0.5 Fib @ $9371
3. 0.382 Fib @ $9264
4. 0.236 Fib @ $9131
Upside Target: $10,544
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade. FU Moves are common in crypto, so watch out for those Stops-Hunting Bots. If your stops are too tight, you might get liquidated and get stopped out of your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Great end of the week we had, and greater week ahead of us.
On this chart, we now have a rising wedge, a bearish divergence, and a potential cup and handle pattern forming.
Downside Breakout Target:
1. Golden 618 Ratio Fib Level @ $9479
2. 0.5 Fib @ $9371
3. 0.382 Fib @ $9264
4. 0.236 Fib @ $9131
Upside Target: $10,544
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade. FU Moves are common in crypto, so watch out for those Stops-Hunting Bots. If your stops are too tight, you might get liquidated and get stopped out of your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Comment:
Cup & Handle Pattern almost complete.
Comment:
Potential bounce target: $10,819
Comment:
Bullish Double Bottoms forming on the chart...
Comment:
Confirmed Double Bottoms
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Bullish Tweezers along with this Bullish Double Bottoms
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Comment:
Cup and Handle Pattern still forming subsequently forming a bull pennant pattern.
tradingview.com/chart/BTCUSD/4aODUpLy-Bitcoin-Bullish-Pennant/
tradingview.com/chart/BTCUSD/4aODUpLy-Bitcoin-Bullish-Pennant/
