Bitcoin is trading sideways last 5 days forming a symmetrical triangle and a pennant at the same time.
In modern markets there are not bullish and bearish patterns on its own. To be profitable, you need to use them in conjunction with other indicators, news etc.
Volume is declining, it's normal during the consolidation phase.
In the long run BTC is still in a bull trend, so if you intend to treat these patterns as bearish signals, that's not a good idea.
Every day, whales, like Luna Foundation Guard accumulate millions USD in Bitcoins.
So, the price target for symmetrical triangle is around $42.7k
The price target for pennant is around is around $44.6k
As for the stop loss, the "rule" says, slightly below the low of the pattern, or below the down trendline.
Investing is a probability game.
Try for consistency, there is no perfection in this.
Not financial advice. Always do your own research.
In modern markets there are not bullish and bearish patterns on its own. To be profitable, you need to use them in conjunction with other indicators, news etc.
Volume is declining, it's normal during the consolidation phase.
In the long run BTC is still in a bull trend, so if you intend to treat these patterns as bearish signals, that's not a good idea.
Every day, whales, like Luna Foundation Guard accumulate millions USD in Bitcoins.
So, the price target for symmetrical triangle is around $42.7k
The price target for pennant is around is around $44.6k
As for the stop loss, the "rule" says, slightly below the low of the pattern, or below the down trendline.
Investing is a probability game.
Try for consistency, there is no perfection in this.
Not financial advice. Always do your own research.
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.