Morning guys,
since yesterday we have a nice Equilibrium range on BTC (a tightening pattern with Lower Highs & Higher Lows), clearly in the 1H & 4H, the wicks on the upper trendline are getting confirmed since 06/11/18, the wicks of the lower trendline since 06/13/18. We are in a range between 6.5-6.600 to the upside, 6.370 to the downside.
=> A break is comming rather sooner than later
But beware of fake-outs! It happens often that the equilibrium gets broken in a certain direction with no follow-through, and then, almost in a U-turn kind of scenario, shoots up in the opposite direction. E.g. a bearish break that we had in April with BTC, which eventually led to a fake-out & bull break to the upside, because the bears had lost momentum -you always have to be aware of that scenario and therefore always got to have your stop losses set, no matter what direction you're betting on!
Other than that, EQ breaks are a pretty clear signal & lead to high break outs. I wish you good luck in your trading! ;)
If you find my analysis helpful, please like & subscribe, watch my video analyses, I will be doing those daily from now on! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
since yesterday we have a nice Equilibrium range on BTC (a tightening pattern with Lower Highs & Higher Lows), clearly in the 1H & 4H, the wicks on the upper trendline are getting confirmed since 06/11/18, the wicks of the lower trendline since 06/13/18. We are in a range between 6.5-6.600 to the upside, 6.370 to the downside.
=> A break is comming rather sooner than later
But beware of fake-outs! It happens often that the equilibrium gets broken in a certain direction with no follow-through, and then, almost in a U-turn kind of scenario, shoots up in the opposite direction. E.g. a bearish break that we had in April with BTC, which eventually led to a fake-out & bull break to the upside, because the bears had lost momentum -you always have to be aware of that scenario and therefore always got to have your stop losses set, no matter what direction you're betting on!
Other than that, EQ breaks are a pretty clear signal & lead to high break outs. I wish you good luck in your trading! ;)
If you find my analysis helpful, please like & subscribe, watch my video analyses, I will be doing those daily from now on! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
Comment:
Boooom! +5%