Two of the predictions in my previous post were bullish triangle and bullish sloping flag. But it looks like BOTH of these are correct. The price broke out above the triangle's horizontal line, but has now found resistance at the top line of the sloping flag. Short term swing traders should SELL at this point.
Long-term hodlers can take comfort that the flag is usually a bullish formation, a continuation of the prevailing upward trend. But of course, that is only 'usually', we could see a breakout upwards or a reversal below the bottom line of the flag. Be alert for either possibility and plan accordingly!
Long-term hodlers can take comfort that the flag is usually a bullish formation, a continuation of the prevailing upward trend. But of course, that is only 'usually', we could see a breakout upwards or a reversal below the bottom line of the flag. Be alert for either possibility and plan accordingly!
Comment:
BTC has now bounced off the top of the bullish flag. I've raised my stop-loss to just below the bottom of the flag.
Trade closed: stop reached:
Stop-loss triggered yesterday, just below the bottom line of the 'big' bullish flag. I've taken my profits. The water's getting a bit too hot for me.
THE CRYPTO TRADER: How anyone can make money trading Bitcoin and other cryptocurrencies
Published by Harriman House.
This link should take you to your local Amazon site.
getbook.at/TheCryptoTrader
Published by Harriman House.
This link should take you to your local Amazon site.
getbook.at/TheCryptoTrader
