BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Market installed a series of higher highs and higher lows. This is a definition of an uptrend. Typically retracements in an uptrend stop at previous higher high. There are two main opportunities on the chart: Trend Continuation and Counter Trend. A Trend continuation opportunity gives larger profits in terms of price movement. With trend continuation approach it is enough to catch one big move that will cover all previous losses and leave you on the green side for the year. Counter trend opportunity gives you a better probability of a win but it's movement potential is limited.

So, what would you prefer? Potential big wins that happen seldom or much smaller wins that happen more often?
✅ This pattern was found by MPS-v5.5 pattern recognition software: https://mps-trade.com

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Comments

I agree that this will be the most likely development. Thanks for sharing!
However, I also think that retracement could only go back to 50% of the previous increase, i.e. down to 15k, after which greed will prevail again. This is the second most likely possibility.
The market loves 50% retracements the most.
+8 Reply
@ReallyMe, thank you for your comment
Reply
helpy101 ReallyMe
@ReallyMe, turned out to be the case!
+1 Reply
nice prognosis
+3 Reply
Alexander_Nikitin Yuriy_Bishko
@Yuriy_Bishko, thanks for your comment
Reply
It's good to see an objective analysis next to all the crazy analysis from Moonboy Matthew here on Tradingview. Good job, like that one.
+1 Reply
@Tievha, thank you
Reply
yes i am expecting same target but before that I am expecting Wyckoff's distribution pattern
+1 Reply
@Aadil1000x, thank you for your comment
Reply
It’s so deep! But if, so it will take time...
+1 Reply
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