BTC cant seem to make new highs. Steep downward channel
Short now 14175
Stop 14375
Target 10000
Move stop and limit down along parallel lines as trade progresses
Short now 14175
Stop 14375
Target 10000
Move stop and limit down along parallel lines as trade progresses
Trade closed: stop reached:
Not only has BTC moved out of the steep descending slope but it has gained support on the 25th centile line (blue meets green) of this ascending Schiff pitchfork. It must hold 14000 for next two days or else it could drift back to lower parallel.
I would consider long at the lower parallel if there are a few bars of support. somewhere around 12800
I would consider long at the lower parallel if there are a few bars of support. somewhere around 12800