As you can see in the chart, the selling has continued to slow since the initial sell off @19.8k
This doesn't mean that Bitcoin cannot go lower, however the trend is indicating that a reversal may be near.
This doesn't mean that Bitcoin cannot go lower, however the trend is indicating that a reversal may be near.
Comment:
You can also see the selling momentum slowing in this inverse chart.
Trade active:
Here we go. Inverted head and shoulders has formed and we're currently at the neckline. Await for the neckline to break and close the day above $6,900 before considering going long. Inverse head and shoulders are actually a bearish pattern as they indicate strong resistance until they are broken. See the full idea here:
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.