Looking at the daily chart we have two arrows green (31% chance) and red (69% chance), this is a measured move of the size of the diamond pattern that when applied at the break of the neckline this will give us the minimum target for of our trade.
The key area to watch for is the break of the trendline as indicated as a red circle for bearish move and green for a bullish move. Stop-loss should be the previous candle before the candle that breaks the trendline. Monitor this pattern on the 4hr chart for the best entry point.
The Bulls trying it again! Did you trust the "BITCOIN" Bulls? If you did, you get your reward!
DUMPED!
BlackMEX
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#Bitcoin #BitcoinHalving2020 #cryptocurrency
So you thought the BITCOIN move was insane right?
and it would reflect the "Trip to Moon" episode.
Your favorite crypto pumper told your this that BTC was Super Bullish?
I just want to point out that things are usually more complicated than it seems. Most people think that they just have to buy some BTC and we'll moon to 100k in a straight line.
Everybody who claims this will happen is a shit.
BlackMEX
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Bitcoin Halving Capitulation - Mining Death Spirals
Here s a small explanation about why I'm SHORT position.
REMEMBER!!! Risk comes from not knowing what you're doing. I have experience in trading with BITCOIN. So you can assume that I know how to deal with it.
THANKS!
- BlackMEX
waterslide
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Thanks Keifer! Very clean and interesting analysis. May I ask how you arrived at the probabilities of 69 and 31 percent? Are there statistics somewhere for
the way various structures trend to break? Thank you for any clarification you can add. Cheers!
keifer
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@waterslide, Top of the trend are those probabilities but reverse that if the diamond forms at the bottom of a trend. So Bottom going up is 69% chance and going down is a 31% chance.
The Bulls trying it again! Did you trust the "BITCOIN" Bulls? If you did, you get your reward!
DUMPED!