Short position on BTCUSTD
everything is pretty much obvious on the chart but there are some details I would like to share with you
1. The first two scenarios (which I'm in favour of the green one) is because of a slight problem which I see with this triangle scenario
hence note the formation of the drawn arrows if the current rally advances sharply through the prior high then the downtrend scenario will be failed but if the rally develops as a corrective pattern (in compression with the preceding segment) the green one certainly happens and it would be a hell of a drop indeed
2. note the orange rectangle boundary as for price the top line the middle line and bottom lines are strong resistances especially the top line
As for time, the closer price gets to the right side of the rectangle the drop will be more dramatic
3. the yellow arrow is just a possibility which seems pretty much rational if the green scenario unfolds as expected.
Good Luck
1. The first two scenarios (which I'm in favour of the green one) is because of a slight problem which I see with this triangle scenario
hence note the formation of the drawn arrows if the current rally advances sharply through the prior high then the downtrend scenario will be failed but if the rally develops as a corrective pattern (in compression with the preceding segment) the green one certainly happens and it would be a hell of a drop indeed
2. note the orange rectangle boundary as for price the top line the middle line and bottom lines are strong resistances especially the top line
As for time, the closer price gets to the right side of the rectangle the drop will be more dramatic
3. the yellow arrow is just a possibility which seems pretty much rational if the green scenario unfolds as expected.
Good Luck
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