i am NOOB with this chart patterns so that's why i am not giving a setup however i will look to add shorts around 245
if you have any knowledge then please do let me know in comment if i have charted this right :)
just sharing my thoughts & ideas
we are still trading under resistance IF somehow BTC dumps then this will also come crashing so it's better to wait for the breakout & the retest of S/r flip just how we did for #VET
entering at the successful retest of the broken triangle is much safer then entering...
I read this somewhere, first, they pump ETH then BTC then alts then they cash out in USD & cycle repeats itself, this seems to be true for the current movement we are watching in cryptomarkets
First ETH was moving but BTC was lagging now BTC is moving but ETH is lagging, i posted a long chart while back with the targets of 267, it looks hard to reach there now,...
Looking at the charts we are trading inside a descending triangle, after the dump, we had this could also be a continuation to lower levels but i see a relief rally coming soon in markets. a final pump before another major crash.
one more thing noting here is this possible H&S in the making, there is a low chance of this working out as we are at the BOTTOM not...
H&S idea is still valid, there a gap also on CME that lines up perfectly with our right shoulder, i was short from 9268 but have taken profit here at 100$ move now looking to resort at 9350 targeting 8900 or even lower
also we are printing bearish divergence on hourly still need to see it on 4h...
i am still long from 8700
want to hedge a short here around 8900 but BEST SHORT will be from 9200 if i see good rejection will short big there
waiting for this triangle to break either up or down, choose your side! let me know in the comment where will this break?
i am gonna use a small balance my #IOST trade was awesome but was stopped on FAKE DOWN, gonna leave lose stop loss for this one
possible Triangle broken out with good volume, retest holds then long it!!!