Finally back to the desk!! alts setup got messed up by Bitcoin, we knew 20% move on BTC was coming but still, I overexposed myself in alts & my folio went down 15% in 24 hours -
now will start fresh with alts setup tomorrow onwards! accept your mistakes, Never dwell on them but Learn from them!!
Back to Bitcoin - we have been trading inside this Parallel channel, have been keeping an eye on it since the end of June, interestingly it also turned in to an ascending triangle & triangle target is not yet complete
Track triangle here
so my plan is simple, like any triangle we have bought so far we will buy the retest of the triangle, I will update with setup later on
I think BTC will go in sideways action yet again allowing alts to flourish more, the yellow path should be followed, mid-channel shall not be broken & support of this parallel channel shall be tested yet again
There are lots of talks going on in many telegram channels that this rally was just a response to DXY, as the Dollar index dropped the price of BTC skyrocketed if that's true then as DXY starts to recover now BTC shall correct??
only time will tell, for now, I am buying the retest of the triangle around 10k levels if it holds, November will be an important month for bitcoin as I truly believe we will see one final correction on BTC then we will finally start moving towards 50k targets
we have broken through 2year long resistance finally so going back inside the triangle or below Trendline is an extremely bearish sign!
keep it simple, buy the breakout, book profit as per your targets keep repeating.
now will start fresh with alts setup tomorrow onwards! accept your mistakes, Never dwell on them but Learn from them!!
Back to Bitcoin - we have been trading inside this Parallel channel, have been keeping an eye on it since the end of June, interestingly it also turned in to an ascending triangle & triangle target is not yet complete
Track triangle here
so my plan is simple, like any triangle we have bought so far we will buy the retest of the triangle, I will update with setup later on
I think BTC will go in sideways action yet again allowing alts to flourish more, the yellow path should be followed, mid-channel shall not be broken & support of this parallel channel shall be tested yet again
There are lots of talks going on in many telegram channels that this rally was just a response to DXY, as the Dollar index dropped the price of BTC skyrocketed if that's true then as DXY starts to recover now BTC shall correct??
only time will tell, for now, I am buying the retest of the triangle around 10k levels if it holds, November will be an important month for bitcoin as I truly believe we will see one final correction on BTC then we will finally start moving towards 50k targets
we have broken through 2year long resistance finally so going back inside the triangle or below Trendline is an extremely bearish sign!
keep it simple, buy the breakout, book profit as per your targets keep repeating.
Order cancelled:
broke above from parallel channel
target is almost met of ascending triangle
target is almost met of ascending triangle