BITCOIN ð Symmetrical Triangle â ïļ
If it breaks bullish... we'll have fireworks.
Neutral price movement since supply and demand converge at an equal point.
Is it a reversal or continuation?
Probability = 50%
Risk to Reward = 1:5
Neutral price movement since supply and demand converge at an equal point.
Is it a reversal or continuation?
Probability = 50%
Risk to Reward = 1:5
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
ð Not exactly a volume spike, but it's a positive sign... because of the small move out of the triangle.. my feeling is that it may not hit the price target. Looking to move Stop Loss to break-even soon.
â Another possibility is that whales may wick the price down to take out Stop Losses and then run the price up again to form a Bull Flag???
â Another possibility is that whales may wick the price down to take out Stop Losses and then run the price up again to form a Bull Flag???
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
ðĻ Actually, too late for a Bull Flag... more like a Falling Wedge ð§ ...if whales test supply some below the triangle and demand takes it back up. Just a possibility... not a probability.
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
Breakout in progress with a clear shift from consolidation to uptrend! Moved Stop Loss up. ð
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
The symmetrical triangle without a real breakout set the tone for a sideways consolidation. Based on indicators, the probability of either direction is 50%. But the increasing Bear Volume has me worried. Therefore, I'm looking to exit this position sooner than later.
āļāļīāļāļāļēāļĢāđāļāļĢāļ: āļāļķāļāđāļāđāļēāļŦāļĄāļēāļĒāļāļēāļĢāļāļąāļāļāļēāļāļāļļāļ:
Stopped Out for a tiny loss (near break-even on my entry). I don't see a reason to be in this trade anymore. Price failed to break out convincingly of symmetrical triangle.
could just be a sideways consolidation to form a larger structure...