BITCOIN: TIme to Hedge

the big q is where are we heading to? Short term drop or visiting even the 20k over new year? Well let's see what the heaven has to offer us..

@Lobotto,

In general, price breaking below a bearish pattern is the completion point for the pattern. For the Deep Crab that would be 23021.76 and for the Gartley that would be 22600.

Should price reach these levels there will be further patterns painted to guide the way beyond that.

@Tradesy1,

This Bullish Bat completed once price broke above the pattern ...

Wreck soon

@Bullgod7,

It's a hedge to cover long profits.

@Tradesy1, well i guess you ate your own profits

@Bullgod7,

A hedge protects your profits, closing 50% at 2R makes the hedge risk free. When price hit the stop, profit secured on the hedge was 0.5R with the long still running.

That's 0.5R more profit compared to someone who did not hedge.

@Bullgod7,

Entry, Stop and Target for the "Wreck soon" trade?

Or is accountability not in your portfolio?