Well, I'm not the kind who likes drawing shapes and calling them fractals as if I knew the future.
But here, the story is troubling. BTC has already made twice the funny sideways move shown on chart, and I can't help but feel it's the same story all over again, with time and price ranges becoming smaller. Same thoughts each time, same decisions each time on my side ; not gonna repeat the bad ones this time I guess.
We logically have two possible outcomes :
1) Repeat of the same pattern. Therefore I'm buying any small dip not strong enough to invalidate the pattern, in the green rectangle. I'll stick to the pattern for all trades on all crypto space as long as it's valid.
2) Pattern breaks. I'm expecting that move to dictate the mood for crypto for coming weeks. Can't act until I see the kind of pattern breaking move. But I'll most likely FOMO it as soon as I recognize it.
But here, the story is troubling. BTC has already made twice the funny sideways move shown on chart, and I can't help but feel it's the same story all over again, with time and price ranges becoming smaller. Same thoughts each time, same decisions each time on my side ; not gonna repeat the bad ones this time I guess.
We logically have two possible outcomes :
1) Repeat of the same pattern. Therefore I'm buying any small dip not strong enough to invalidate the pattern, in the green rectangle. I'll stick to the pattern for all trades on all crypto space as long as it's valid.
2) Pattern breaks. I'm expecting that move to dictate the mood for crypto for coming weeks. Can't act until I see the kind of pattern breaking move. But I'll most likely FOMO it as soon as I recognize it.
Trade active:
We just had a dip touching support of the current downtrend. I consider it to be a really quick repeat of the previous pattern and bought the dip. We are now around the top of the blue rectangle bull move. I expect triangle sideways pattern until bullish breakout to touch red resistance BD.
On daily time frame, I'm looking at the 4100 zone for a decision point between bulls and bears.
Yet, I'm very wary in this uncertain situation. The gut says bull, but technicals say meh and community says bear. Watching closely and moving stop losses as we go.
On daily time frame, I'm looking at the 4100 zone for a decision point between bulls and bears.
Yet, I'm very wary in this uncertain situation. The gut says bull, but technicals say meh and community says bear. Watching closely and moving stop losses as we go.
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