After a strong impulse out of the 44-45k range to the 48-49ks, bitcoin is losing momentum and is trading in an expanding triangle where each impulse to the upside results in a +100% retracement. I expect the price to have a plunge to the 46k before any further move upwards. Bitcoin is having an extremely choppy price action recently with a lot of noise in lower time frames and can easily get me stopped out and reverse back down; that's just part of the game of probabilities though. It would even be wiser not to trade at all in such circumstances but I'm willing to take the risk. Cheers!
Trade closed: stop reached:
I was wrong!