i said that reversal was not it , and worse was coming . if you look closely on the prev post you can see a in RED which is the line you see on this post. price bounced back up really nice from there. this has held since Nov - 2017 juts that some traders DID NOT see it. but it lines up perfectly. the bounce was mainly due to touching is support trend and has nothing to do with the horizontal support.
now if you look at the bigger picture of BTC on the . you can see that the price has been consolidating within the triangle.
what i expect NEXT for btc is the ups and down whiting that tight area of the triangle , i do not expect much movement till we break the triangle in one direction or the other. and once we do break the triangle you will see crazy in the market. it's either going to be a rocket to moon of a did beard from the sky. it won't be as slow as within the triangle.
so what can we do now ?
from now till we get a confirmation on the break of this Triangle you could have short term trades within the triangle. remember to keep a TIGHT STOP because the market will be too fast when it breaks.
do not trade without stop loss. your stop loss should be a little under the last low. if we build up a new support line we can move our SL to that support
as long as we stay above the Major Trend line chances we are going to test the upper side of the triangle ( down trend ). we may re-test the up trend again in a day or two.
if daily close bellow the trend will be the best Signal to SHORT BTC.
i will update soon.