Astroc

BTC daily update 21.06.2018

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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5
Nothing really changed since yesterday. BTC is moving in BLUE rising wedge . I expected two scenarios and due to positive tether news we took yellow scenario. I don't expect BTC will dump as fast as I draw (great FUD would be necessary) but in spite of some bullish signs I still think we need to make another lower low and go below 6k.
Trade active: I told ya! My shorts are already opened for a few days. I expected to add to the short a little bit more around 6.9k but it doesn't go so far.
Comment: perfect break of the wedge

Comments

you sure thats a rising wedge and not an ascending triangle?
+1 Reply
Astroc reppac
@reppac, yep. I have drawn such a triangle later

but as long as we are in the bear market (not signs of reversal yet) I don't believe in bullish patterns
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reppac Astroc
@Astroc, understood. I also see some bearish convergence. I am certainly not bullish overall, but I see the odd opportunity. However, the risk of a bearish dump is increasing and the bull rewards are diminishing. I agree with the general sentiment but wonder if the 7200 resistance will be the actual turning point.
Reply
good call
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