BTC - WHICH IS THE CORRECT TRENDLINE, IF ANY? NO TRADE TIMES
Hello,
two of the previous trendlines (black) were broken. Now we have two possible trenlines (and related ascending triangle), in blue.
One is already broken to the downside so , should the today close be there, the traingle would be invalidated.
The second blue line seems to perfectly act as a support, giving us some chances of up movement.
In the previous analysis I highlighted all the bearish factors, but it seems we are in a complex wave, very difficult to trade.
No clear trend is highlighted (see the ADX of the DMI indicator, the red line) to be very very low, meaning no clear direction.
The triangle signal that we have higher lows, so evidence, albeit skewed to bearish is not clear enough. (anyway we know what happens when many people think the sameway on BTC: it goes in the opposite direction). All that being said, my suggestion is to keep yourself from trading this range (9,000-10,000) and wait for a clear breakout on either side.
Trading is all about maximizing probabilities, not catching the perfect max or the min of a trend. So I will wait for a clear sign to enter either sides.
two of the previous trendlines (black) were broken. Now we have two possible trenlines (and related ascending triangle), in blue.
One is already broken to the downside so , should the today close be there, the traingle would be invalidated.
The second blue line seems to perfectly act as a support, giving us some chances of up movement.
In the previous analysis I highlighted all the bearish factors, but it seems we are in a complex wave, very difficult to trade.
No clear trend is highlighted (see the ADX of the DMI indicator, the red line) to be very very low, meaning no clear direction.
The triangle signal that we have higher lows, so evidence, albeit skewed to bearish is not clear enough. (anyway we know what happens when many people think the sameway on BTC: it goes in the opposite direction). All that being said, my suggestion is to keep yourself from trading this range (9,000-10,000) and wait for a clear breakout on either side.
Trading is all about maximizing probabilities, not catching the perfect max or the min of a trend. So I will wait for a clear sign to enter either sides.
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Or simply you don't want to risk it?
Trade forex, oil, crypto, indices, and keep 80% of the profits you make, while losses are covered!
Check it out now → ftmo.com/en/?affiliates=2427
