Hello Good People,
The chart displayed above is examining a possible fractal pattern on bitcoin for a possible SHORTING opportunity. As you can see BTC has repeated this pattern on 3 occasions in 1 month. On the green circles, you can observe 2 big red candles, followed by some side movement and finally another drop.
I think we might be in for a drop into the danger zone (red rectangle) and possibly touching that 3200-3100 low and create a double bottom that will mark the end of the bear-market.
I would say, set a short order at 3494 to make sure you don´t catch a wick down and watch the market plummet.
I wish you luck in your trades and have fun learning.
From your friend and neighbor, LunaMan.
The chart displayed above is examining a possible fractal pattern on bitcoin for a possible SHORTING opportunity. As you can see BTC has repeated this pattern on 3 occasions in 1 month. On the green circles, you can observe 2 big red candles, followed by some side movement and finally another drop.
I think we might be in for a drop into the danger zone (red rectangle) and possibly touching that 3200-3100 low and create a double bottom that will mark the end of the bear-market.
I would say, set a short order at 3494 to make sure you don´t catch a wick down and watch the market plummet.
I wish you luck in your trades and have fun learning.
From your friend and neighbor, LunaMan.