Symmetrical triangle inside a larger broadening ascending channel. The larger pattern is slightly bearish but the smaller pattern is neutral. I will maintain a bullish bias until we break down due to the ongoing strong uptrend.
Comment:
Break currently looking good but not strong on volume just yet. Expecting a retest of the upper trend line. Stop loss for me will be below the lower trend line somewhere just under $40k
Comment:
Looks like my trend lines were a bit off since there are no major moves yet. Sideways movement was likely caused by the bearish divergence that I didn't notice a couple of days ago.
Still definitely not going short until we break the 1 hour EMA.
More practice and I'll get more accurate in future!
Still definitely not going short until we break the 1 hour EMA.
More practice and I'll get more accurate in future!
Comment:
Didn't quite play as I expected, but the call to go bearish after breaking the 1 hour EMA was spot on!