What to do about Bitcoin

I'm publishing this idea not to set up a trade but rather I'm going to do some market analysis for the next while.

I have been off with my readings with bitcoin - there has been some bear and bull traps over the last few days.
Normally when I'm not trading well, I reduce my position size and I try to get in sync with the markets again through analysis.

This idea is to record my analyses.

I just quickly put together the next patter that seems to be showing itself. More to comment tomorrow, it's just late at night and work was busy - I want to start with a fresh mind tomorrow :D

Nota

this is also another possibility.

Nota

We experienced a DEEP pullback from the breakout of the daily wedge (in orange).
This has not been violated - this is short term bullish.

BTC looks like it's forming a triangle.

Nota

note that if this triangle breaks in the down side, i can see a big drop.

Nota

A ton of buyers were waiting to buy that breakout of the triangle. We extremely likely to keep going up. Buy the dip on this break

Nota

the breakout looks healthy so far.

look to buy in the lower range of the structure.

Nota

If you entered at the price above around the 7600 to 7700 area this is a good time to take some profits. There is a h&s in the hourly.

Nota

still bullish as long as we stay above the blue support area.

Nota

sell if it breaks the upper structure

Nota

hope you guys sold when this structure broke

Remind

Declinazione di responsabilità

Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.

Remind