I don't know whether or not this pattern is still being traded.
Triangle breakdown
A double Fibonacci 0.618 retracement in a triangle looks very suspicious. I am very bullish but there could be some stop loss hunting in the triangle when it is breaking down, in contrast to consensus. Meaning it won't reach below 30k as it usually goes after a triangle, but still down enough to lake out some longs.
Triangle breakdown
A double Fibonacci 0.618 retracement in a triangle looks very suspicious. I am very bullish but there could be some stop loss hunting in the triangle when it is breaking down, in contrast to consensus. Meaning it won't reach below 30k as it usually goes after a triangle, but still down enough to lake out some longs.
Comment:
It has to break multiple support levels, so it is unlikely. Just in case it will break down, $32500 will be a nice place to buy
Comment:
it looks like the pattern is still being traded
it looks like the pattern is still being traded