Ascending Triangle (Consolidation for wave D and E Before break)
Hello all
Bitcoin at the moment it consolidate inside a huge ascending triangle.
We are moving through ABCDE waves which it confirm that actually we
have an ascending Bull Flag.
Many people they listen Bull Flag and they connect it always with upside movement.
Exist many types of Bull Flags and each type has specific results.
The current one is an ascending bull Flag/ Ascending Triangle and inn that case exist
the possibility of Upside movement at 60% and on downside movement at 40%
Personally i trade triangles/Flags only after the confirmation of break out.
The same i will do and in this case.
But because before the break out, i yet expect wave D and E, i will share my trading
movements until the break.
Bitcoin consolidate in a range of price between 9250 and 9550...
I expect wave D down to 9250 -9300 where it seems bull they build strong support area...
This range will be my buy area...
Then waiting the wave E upside, where the market will decide if we will have break upside
or downside...
An increasing of price at 9550 with wave E, and a retrenchment at 9430, is sign of breaking downside.
Upside break out with wave E we need to see the price at least 9650....
STEPS:
1) I buy with wave D at 9250-9300
2) I hold with wave E at least 9600
3) If we see 9600 we buy more
4) If on wave E we see retrenchment at 9430, i sell as i will expect break downside
My OPINION....
Bitcoin at the moment it consolidate inside a huge ascending triangle.
We are moving through ABCDE waves which it confirm that actually we
have an ascending Bull Flag.
Many people they listen Bull Flag and they connect it always with upside movement.
Exist many types of Bull Flags and each type has specific results.
The current one is an ascending bull Flag/ Ascending Triangle and inn that case exist
the possibility of Upside movement at 60% and on downside movement at 40%
Personally i trade triangles/Flags only after the confirmation of break out.
The same i will do and in this case.
But because before the break out, i yet expect wave D and E, i will share my trading
movements until the break.
Bitcoin consolidate in a range of price between 9250 and 9550...
I expect wave D down to 9250 -9300 where it seems bull they build strong support area...
This range will be my buy area...
Then waiting the wave E upside, where the market will decide if we will have break upside
or downside...
An increasing of price at 9550 with wave E, and a retrenchment at 9430, is sign of breaking downside.
Upside break out with wave E we need to see the price at least 9650....
STEPS:
1) I buy with wave D at 9250-9300
2) I hold with wave E at least 9600
3) If we see 9600 we buy more
4) If on wave E we see retrenchment at 9430, i sell as i will expect break downside
My OPINION....