BTC is building a triangle around $10k. It was avoiding it and now it looks like it's going to build a point of control on top of it.
This will likely end up making a triangle pattern which squeezes down to a point then breaks out from the triangle.
This will turn the squeeze pattern into a megaphone pattern which is difficult to trade but still has potential to yield high reward/risk.
I am leaning toward it breaking out to the down side but feel like there's maybe a 1/3rd chance or so it will break to the up side.
In either case I will be looking to enter on the retest of the $10k region after it has broken away and looks like it's not coming back.
Basically I will be watching to trade the b to c point on either the red or green after it makes an 'a' type move out of the triangle.
Making trades while it's still in this triangle is not such a great idea, there are other things to trade which are not stuck in consolidation. I will be posting some futures charts next which show where I am focusing my attention while BTC makes up its mind.
Gold is one market that has a lot going on it it right now.
This will likely end up making a triangle pattern which squeezes down to a point then breaks out from the triangle.
This will turn the squeeze pattern into a megaphone pattern which is difficult to trade but still has potential to yield high reward/risk.
I am leaning toward it breaking out to the down side but feel like there's maybe a 1/3rd chance or so it will break to the up side.
In either case I will be looking to enter on the retest of the $10k region after it has broken away and looks like it's not coming back.
Basically I will be watching to trade the b to c point on either the red or green after it makes an 'a' type move out of the triangle.
Making trades while it's still in this triangle is not such a great idea, there are other things to trade which are not stuck in consolidation. I will be posting some futures charts next which show where I am focusing my attention while BTC makes up its mind.
Gold is one market that has a lot going on it it right now.
Not
BTC broke to the upside of the triangle. Considering longs on tests of $10k.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.