ralis24

Bitcoin - Pattern rec (3)

Long
COINBASE:BTCUSD   Bitcoin
IF the pattern continues...and that's a big IF... then one can expect a rip to the upside lasting approximately 15 days and a gain of approximately 69% to 15961. Nothing is written on stone tablets so this is merely conjecture. Notice the dip of box 3 into box 2 was much larger than the dip of box 2 into box 1 as indicated by the horizontal purple lines. Also the gap between the macd lines at the beginning of each rip to the upside is larger. This may indicate the momentum is waning and traders are becoming a bit more cautious. If that's the case, then odds for continuation of the pattern and another parabolic rip are diminished. Best one can do is leave fortune telling to the professional scam artists and plan accordingly. The bias is obviously bullish (daily time frame) so the long trade is warranted with stops trailing higher with the parabolic SAR dots. If things go south, you will still exit with a profit...if you got in when the reversal occurred.
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