Bitcoin Pattern Analysis

19 paź 2019Good morning ladies and gents! Bitcoin appears to have broken out of a bigger falling wedge which we have been in for a little while now. On top of that, you pretty much hit the measured move of that Head and Shoulders like structure that also played out to the Elliot wave theory. That being said, we are now currently near the bottom of the rectangular range we have been in since we have broken out of the descending triangle above 9k. You are also showing bullish divergence on the 4 hour time frame. So, if you are wanting to take a shot at this high probability trade opportunity with overwhelming amounts of variables that show a potential in price reversal, then I have two Entries and exit targets depicted in the Risk/Reward ratio which both have at least a 1:3 Risk/Reward Ratio. Both stops are placed slightly under that last wick as it matches a better win/loss ratio. Profit taking levels of a wedge are usually between the 50% and 61.8% retrace which are where both of my exit targets are placed!

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19 paź 2019

Zlecenie aktywne

We close two 4 hours above the wedge. Wicking inside is okay for now, buy we need to close the daily above it as well!