Just analysed the chart and this is a likely scenario for bitcoin which will happen very soon. Price will most likely go down to the purple line and bounce up.
Close but no cigar....that is the the thing with trading...not just about roughly guessing where price is going to go, it is about timing entries and placing stops perfectly......going by that chart, if you were going to long on the tag of 11550, your stop has got to be at least down below 10500....for that trade to make sense you would have to realistically expect an upside target of around 14K.
Buzz_Leighton
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@MatTheCat, I agree with you about the timing and the very tight stop losses, I didn’t include this on the chart but this is what I always aim to achieve. A $1000 stop loss is a bit large for my liking though.