BTGUSD
Still running within the same sets of rising parallels, BTG took 10 days to more than double from its lows. A laggard.
It's still unwinding, making a similar continuation pattern to the one that has just preceeded it...it may try to rally one
more time to 348/9 but once 321 gives way it should fall to 299-289 range, worth shorting. Whilst trapped within the
falling parallels from the highs BTG will remain in a weak technical position. To turn back to bullish from here BTG will
have to break above 352 and hold (not spike higher and fall away) only then will it look safe to follow for move up to 391.
But the chart is saying more downside is likely first.
Still running within the same sets of rising parallels, BTG took 10 days to more than double from its lows. A laggard.
It's still unwinding, making a similar continuation pattern to the one that has just preceeded it...it may try to rally one
more time to 348/9 but once 321 gives way it should fall to 299-289 range, worth shorting. Whilst trapped within the
falling parallels from the highs BTG will remain in a weak technical position. To turn back to bullish from here BTG will
have to break above 352 and hold (not spike higher and fall away) only then will it look safe to follow for move up to 391.
But the chart is saying more downside is likely first.
Comment:
Bam! Close out shorts at 289 for 33 points profit in 45 minutes flat!