Hey tradomaniacs,
Bitcoin is currently consolidating in a Triangle which is a trend-continuation-pattern, according to the textbook.
Nontheless we know that Triangles can cause breakouts into both directions with fakeouts against the trend as this pattern is too obvious and so a good chance for Whales to fool retail-traders with fakemoves and stop-loss-fishing.
Watch price carefully with every breakout:
- If the cryptomarket tends to falll -> Sell breakout to the downside
- If the cryptomarket tends to rise -> Buy the breakout to the upside
Watch fundamentals and if possible the market-depth to identify these potential fake-moves.
Bitcoin hasrate is still going up while google trends is showing a decrease of open interest. This could mean we see a breakout wotwards north soon!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me
Bitcoin is currently consolidating in a Triangle which is a trend-continuation-pattern, according to the textbook.
Nontheless we know that Triangles can cause breakouts into both directions with fakeouts against the trend as this pattern is too obvious and so a good chance for Whales to fool retail-traders with fakemoves and stop-loss-fishing.
Watch price carefully with every breakout:
- If the cryptomarket tends to falll -> Sell breakout to the downside
- If the cryptomarket tends to rise -> Buy the breakout to the upside
Watch fundamentals and if possible the market-depth to identify these potential fake-moves.
Bitcoin hasrate is still going up while google trends is showing a decrease of open interest. This could mean we see a breakout wotwards north soon!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me
Comment:
Comment:
Bitcoin has moved inside the descending triangle so far as expected and is about to complete the last Wave E 👉
The price can break into both directions since a Triangle is a typical trend-continuation-pattern and so a reason for retailers to go long, which is a a thorn in whales flesh and so a reason for them to manipulate the market to the downside depending on available supply.
The result is often fakeouts to the downside before price actually moves up, so take care and watch volatility with cautiousness❗️
The price can break into both directions since a Triangle is a typical trend-continuation-pattern and so a reason for retailers to go long, which is a a thorn in whales flesh and so a reason for them to manipulate the market to the downside depending on available supply.
The result is often fakeouts to the downside before price actually moves up, so take care and watch volatility with cautiousness❗️