More Bearish patterns....
Zaktualizowano
Bitcoin doesn't seem to catch a break , 4hour forming bearish continuation pattern has more chance of a breakdown especially with this volume , even though we have a bullish MACD cross if we have no volume for follow through we go nowhere.
Target breakdown would be 16.5k , you could trade this either way but a short has higher probability of playing out because of such low volume.
Short- Wait for 4hour candle to close under bottom of triangle . Stop Loss top of triangle 21k.
Long- Wait for 4hour candle to close above triangle but also must have large volume breakout to confirm follow though.
Stop loss last swing low 19700.
Since this could be the move down to capitulation expect a massive distribution up thrust before heading lower , triggering all stop losses , won't be surprised if we get a move like the yellow dotted line you see on the chart, high risk trade whichever you go.
Target breakdown would be 16.5k , you could trade this either way but a short has higher probability of playing out because of such low volume.
Short- Wait for 4hour candle to close under bottom of triangle . Stop Loss top of triangle 21k.
Long- Wait for 4hour candle to close above triangle but also must have large volume breakout to confirm follow though.
Stop loss last swing low 19700.
Since this could be the move down to capitulation expect a massive distribution up thrust before heading lower , triggering all stop losses , won't be surprised if we get a move like the yellow dotted line you see on the chart, high risk trade whichever you go.
Zlecenie aktywne
This would be a good time to open a short
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