Looks pretty textbook to me. Paired with recent acts of aggression, people are going to look to buy haven currencies.
-Right shoulder lower volume than head
-Ascending support trend line
-Potential break of 100SMA on the Hourly
-Weekly descending triangle
-Weekly 100,200MA resistance
-Daily falling wedge
-Daily bearish divergence
-JPX Falling wedge
2000 Pips, either the most blatant trap, or the best trap I'll make in my life.
Despite the evident falling wedge on the chart, the volume invalidates the pattern as it shows that volume is sustained or even increased at the end of the pattern which in my experience typically indicates strength in the current momentum. I shorted on the test of the upper trendline and expect the lower trendline of the channel to be tested again.
Falling wedge...
ADABTC broke the structure of a tentative ascending triangle with significant volume and momentum.
Furthermore, the .618 of a 31% swing low to swing high has been broken as well.
I am short.
Entry : 1006 Sats
Stop Loss : 1050 sats
Target 1 : 985 Sats
Target 2 : 956 Sats
Target 3 : 926 Sats
Notes :
Upset with Bitmex slippage and erroneously entered a short...
