Hello Traders,
BTC update on the larger scale, we could be seeing yet another descending triangle after this parabolic rise,
Points to consider:
- Parabolic rise into descending triangle
- Completion of possible wave 5
- Three Touches confirming price resistance, macro lower highs
- Volume Tapering off in a similar fashion
- EMA's looking to turn bearish
- stochs also showing more downwards momentum
BTC price action is looking more similar to the previous macro descending triangle that broke the well established $5,800 - $6,000 zone. We could see BTC retrace back to support (Green Zone) in the near future and if price holds support and bounces, then the likely hood of this being an actual descending triangle increases. Right now we need more price action on the longer time frame to confirm if this is the start of another potential larger move to the downside...
What are your thoughts ?
and remember,
“Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” - Marty Schwartz
BTC update on the larger scale, we could be seeing yet another descending triangle after this parabolic rise,
Points to consider:
- Parabolic rise into descending triangle
- Completion of possible wave 5
- Three Touches confirming price resistance, macro lower highs
- Volume Tapering off in a similar fashion
- EMA's looking to turn bearish
- stochs also showing more downwards momentum
BTC price action is looking more similar to the previous macro descending triangle that broke the well established $5,800 - $6,000 zone. We could see BTC retrace back to support (Green Zone) in the near future and if price holds support and bounces, then the likely hood of this being an actual descending triangle increases. Right now we need more price action on the longer time frame to confirm if this is the start of another potential larger move to the downside...
What are your thoughts ?
and remember,
“Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” - Marty Schwartz
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。