BTC Diamond Top In the Works?
Quick post.
BTCUSD looks to be forming a diamond top reversal pattern on the hourly chart. Diamond tops are recognized as being lopsided head and shoulders patterns. Price target $9,700, while taking profits at each fib level on the way down. Stop loss above the right shoulder or $10,750.
*THIS IS NOT TRADING ADVICE*
BTCUSD looks to be forming a diamond top reversal pattern on the hourly chart. Diamond tops are recognized as being lopsided head and shoulders patterns. Price target $9,700, while taking profits at each fib level on the way down. Stop loss above the right shoulder or $10,750.
*THIS IS NOT TRADING ADVICE*
Comment:
First price area has been hit, but I am fairly confident we have not found bottom yet. We just completed our first micro wave 1 down of the b wave of our presumed zig-zag correction. Lower target looking fairly likely due to the length of wave a.
Trade closed: stop reached:
Price reached our initial stop price. Hit the 0.786 fib retracement,I will continue to monitor.
Trade closed: target reached