BTC have traded up for a while, and right now is testing the bullish line.
What can we expect? A close today below the trendline in blue (around 6780) could mean a reversal is likely to occur, heading 5900 target.
I am looking a formation of Hs's again. Which could mean that if the signal is validated, we could be heading downwards to 5900, and after have a pullback around 6780 again, but that i let it to the future.
STRATEGY:
Open short if today's candle close is below 6780. Target 5900 which I will have already in place longs targeting the left shoulder high around 6700. Stop @ 7600 which will invalidate future analysis of this Hs's formation. Positioning as always 5%.
I really believe we are headed to a severe correction in all assets as the recession/depression is more than a reality.
Have a good one people and stay healthy,
Kind regards, BeniGo
***I am not your financial advisor neither I intend to be, please do your own research before risking your money***
Trade closed manually
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Dear Gamblers,
Yesterday's candle close was not quite as expected and the bullish line got respected. There's a lot of uncertainty that's why i closed this idea.
I see no reason to risk money when one of the main triggers got invalidated.
Same logic applies if today's close is below this line.