VasilyPonomarev
Short

DONT MISS THIS SELLING TRADE ON BITCOIN!!!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar


hey traders,

on bitcoin we have very nice potential selling opportunity:

on 4H chart we have almost completed bearish harmonic bat pattern .
Looking left we see that the pattern completion point matches perfectly with
a significant level of structure resistance looking left.
+RSI shows clear divergence.

on 1H chart we see that the market is trading inside a rising wedge pattern.
It is a very important pattern, which indicates weakening momentum and contraction.
Also, take a closer look at a rejection candle. This candlestick is very telling,
and indicates strong bearish pressure around 5360 level.

last, but not least:
take a look at volumes,
we see a clear weakening of volumes!


Our plan is to sell the bearish breakout of a rising wedge ,
with targets based on structure
T1 - 5200
T2 - 5050

good luck!

Comment: I received many questions concerning this trade.
So technically there are to styles of trading harmonic bat pattern:
1)aggressive - selling the market as soon as it reaches 88,6 retracement of XD leg
2)conservative -
Identify a selling zone and sell only after a confirmation signal (wedge pattern in this occasion)
Comment: almost hit T1
Trade closed: stop reached
✅Your personal trading coach. Contact me for one-on-one online trading sessions.

✅ Broker that I trade with and trust:
http://bit.ly/BBMBroker
sell the breakout...good deal
Reply
VasilyPonomarev BlockchainYahoo
@BlockchainYahoo, yes, it is a good confirmation signal!
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