Do we get the Breakout of the downtrendline? Then we should go much further up.
I just entered this long trade. The stop loss is set very close to the entry price (too close?).
If we break the "downtrendline" and reach 9250-9300$ then I don't see this "danger" anymore. But if we go back down to 8900 I see the risk that this big descending triangle comes into play... (Sorry for my bad english...)
This is how I want to play the bounce: Buy at 8760 and put some of the BTC in XVG. I might also get some LTC or other USDT Pairing at the same time when BTC is close to 8760. It's also possible that BTC is only going down to 8825.
If BTC is going down, most of the coins follow. So I might get out of my trades (XVG and STORM), when BTC reaches 9300...
The Inverted Head and Shoulders I mentioned one or two days ago is on a good way to be confirmed! We got an awesome breakout. I got a great longtrade from 733-805. I expect XVG to cool down to 785 but maybe it just keeps on rising and then I will just HODL until 980.
This will "definitely" break to the downside... We could also target below 8760 I think...
This is no financial advice and your own risk! I will try to stay strong and HODL at least to 790. I am on a long trade since 702.
Damn this looks like a descending triangle to me...
If BTC and altcoins remain bullish, this might be a trading opportunity... Of course, a symmetrical triangle can also break to the downside...
We might go down much further...
Like I mentioned yesterday, BTC hit the support line on point. I think we might go to 9700 soon.
Will it break bullish? Does it come back to 550 Satoshi?
I don't really think that it will happen, but who knows...
I hope BTC comes back down to the support line to get a good entry for this trade...