A bullish BAT pattern has just completed in the Daily chart. It seems like we got an initial reaction. There might be a short term reversal depending on the price action in BITCOIN. If you haven't seen my BITCOIN harmonic analysis yet, check it out.
I believe that it is not a time to be greedy. So, I am looking for a modest profit in this trade. I will put my first profit taking around 20 MA which is also very close to the 0.236 retracement level. I'll then watch the price action in BITCOIN and LINK to take the rest of my profit.
I'll have a very tight stop-loss. This chart has a very tight PRZ. A break below the terminal candle is a sell signal to me. I'll cover my position if that happens, and look for an entry around 200 MA.
It seems like we got a strong initial reaction. It is up to you where to take profit after this point. I would keep an eye on DXY. It is still bullish in short term. This reversal might soon die off.
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