Triple Repeat Fractal on BTC/USD

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Here in this analysis I will show you a fractal that I've been looking at on the 1h for BTC /USD.

This is a structure that has been forming over the last ~10 days. The price slowly builds up, after which it relatively quickly drops again.

This is something I see now on BTC /USD that I recognize from my time trading stocks. It is very common to witness these kind of patterns. It can take a whole year to build up ~15% and then the market can lose it all in 2 weeks.

Now that we've seen a relatively large drop again from ~$11,833 to ~$11,100, we might be seeing a similar pattern again.

If this pattern gets validated, you should probably hold a long position now until about ~$11,600 and then go short until ~$11,000.

Let me know what you think of this analysis, as it's slightly alternative to the ones I usually do.

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- Trading Guru

This post does not provide financial advice. It is for educational purposes only!

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