BITCOIN, awaiting entry after breakout of symmetrical triangle!
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BTCUSDIn my opinion we are in the final phase of a symmetric triangle, it is a pattern of continuity and the highest chances are of a breakout upwards. We arrive at the most important phase of the pattern, where the price must move in a small band within the triangle until the break occurs.
Although the greater chance is of breaking up, in this case the oscillators give us very important signals that the bears are dominating the force in this triangle. RSI, OBV & MACD are on a strong downtrend and are close to crossing to the negative side (MACD below 0, RSI below 50). Ichimoku also began to demonstrate some bearish signals, red cloud, tenkan crossed down kijun a few hours ago and chikou is below the price also confirming that the selling force is prevailing.
For the above reasons, I get a little biased to believe that the breakout will be downwards.
In any case, we do not have to anticipate and operate in this trading range within the triangle, the best thing to do now is to wait for the break to either side and enter preferably on the pullback as instructed in the chart. But if the breakout movement shows a huge strength (Big candle accompanied by large volume) we can enter without waiting for the pullback and guarantee to open the position.
God bless!
Zlecenie aktywne
Bought in the after breakout candle.Closed by trailing-stop at $4080 with 45% profit (15x leverage used)
Sorry it was too fast to be posted here.
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