Sorry to revive this older chart, but this trade is still very much active and might give some of you guys ideas what's about to happen.
Triangle consolidation very likely to happen and to eventually break down. Notice the severe Bollinger bands squeeze on the daily!
Here the description and strategy from the old chart:
Short all the way down to 6000 upon triangle breakdown.
There, everyone and their mother expect reversal, so of course, you too will take some profit, but you don't go long yet because you're smart: You will wait patiently for the bull trap to play out. You might take a walk or read a book or have a glass of wine with a friend. Then, you can happily ride the final push down to 5000 (on the way, all those longs will get liquidated and all those panic sellers jump ship because Bitcoin -4.19% , again, will "go to zero") where you can load your bags and enjoy the ride back up.
Triangle consolidation very likely to happen and to eventually break down. Notice the severe Bollinger bands squeeze on the daily!
Here the description and strategy from the old chart:
Short all the way down to 6000 upon triangle breakdown.
There, everyone and their mother expect reversal, so of course, you too will take some profit, but you don't go long yet because you're smart: You will wait patiently for the bull trap to play out. You might take a walk or read a book or have a glass of wine with a friend. Then, you can happily ride the final push down to 5000 (on the way, all those longs will get liquidated and all those panic sellers jump ship because Bitcoin -4.19% , again, will "go to zero") where you can load your bags and enjoy the ride back up.
Trade active:
“Buy” target hit.