Bitcoins price development formed a quite accurate shaped diamond bottom. The bottom diamond pattern has shown an excellent performance compared to wedges and triangles. The Fibonacci retracement I use in the chart is not based upon the price, but on the expected performance of the pattern. This might be calculated as following. Measure the price range from the highest to the lowest candle, multiply it with 0.81. The indicator analysis of my former post on Bitcoin fortifies the patterns validity and target.
I note that you closed your trade, any update as to why? I kind of understood the diamond bottom you charted as an indication of The bottom, then the wee rally.
I'm not making a play, just interested.
UnknownUnicorn1539772
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@Fovillain, Just trading the swing and the pattern's price target. Bullish Flag is the next one. Ill post an update soon.