Different scenario for bitcoin
Bitcoin on an hourly timeframe seems interesting.
There are actually 2 triangles one inside of the other.
The bigger one is a descending triangle which suggests the price will get lower by forming lower highs.
The other one that is inside the first one is an ascending triangle that forms higher lows.
In this case, we have 2 scenarios as it's described on the chart with a green scenario ( bullish one ) and a red scenario ( bearish one ).
I've personally put a buy stop and a sell stop to see how it plays.
Good luck!
Edit: Move a bit the chart in the left to see the actual stop loss/take profits zone. It zoomed in a bit after I published the chart and they are no longer shown. Thanks!
There are actually 2 triangles one inside of the other.
The bigger one is a descending triangle which suggests the price will get lower by forming lower highs.
The other one that is inside the first one is an ascending triangle that forms higher lows.
In this case, we have 2 scenarios as it's described on the chart with a green scenario ( bullish one ) and a red scenario ( bearish one ).
I've personally put a buy stop and a sell stop to see how it plays.
Good luck!
Edit: Move a bit the chart in the left to see the actual stop loss/take profits zone. It zoomed in a bit after I published the chart and they are no longer shown. Thanks!
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