As bitcoin broke bearish on the diamond, it got 'faked out' on the new lows. After breaking resistance and coming down for a throwback on support, the trend now leans more towards bullish sentiment.
Due to it's high price-point, I am still reluctant to use any sort of high leverage so for now I will continue with just 1x leverage.
My purchase orders on WABI got filled at the throwback. I didn't even notice until now. The price is already up quite a bit, but my take profit orders are just below the 1700 mark. We have a falling wedge and throwback on previous resistances. Heikin-ashi are showing strong bullish trend signals. I believe this will continue to climb.
Bitcoin has a diamond pattern at play. This pattern is, more often than not, used as a reversal pattern. However, the chances for this pattern is relatively low compared to a lot of other traditional patterns such as the head and shoulders. Due to the long consolidation period, we have opened up a significant amount of shorts in the market and could potentially...
