oh92
Long

Diamond in the Ruff - Possible Shakeout?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has had it rough the last couple weeks. We have been trading within a tight ranges with very few signals of direction.

Thankfully after this last leg down, a possible bullish bat has started to form with its completion at 7150.

The 7150 level not only marks the completion of the bat, but it also marks the .886 fib level which could be the beginning formation of a larger harmonic pattern .

My Plan:
I have most of my orders placed at $7150 with a few that are staggered below.

My 3 main targets are:
Target 1 : 7377 which markets the B leg of the bat.
Target 2 : 7751 or C leg of the Bat
Target 3 : 8178 or the .382 of the most recent 10k swing

IF BTC fails to bounce and goes on to make a lower low. I will likely exit my long.

I hope this analysis helps and I wish you all the best of luck!




Jun 10
Trade active: atm I plan to take 100% profit at target 1
Jun 10
Comment: Sorry for mess. Doubled down at 7880
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was nice chart sorry it did not work out, looked legit
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I think you should've taken how aggressive the price action was to the downside into account
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oh92 gelnd
@gelnd, very true. unfortunately my limits were already set and I did not have time to react accordingly
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We might have formed a new double bottem. Final dump?

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like i say
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wow that diamond is hidden very deep, no one saw that coming
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@leokim, rofl, ruthless
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breakout to 35k $
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tviewcrau ESlamElsherbeny
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Great TA
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