BitcoinDiupdate New kind of wedge?? Comments questions are welcome
This the latest update i made on my analysis about Bitcoin. I just would like to show you this and see what you make of it. So comments and questions are welcome
This looks like a wedge, but it only counts when those to orange area's are small fake outs. But the most important thing, the volume picture is wrong for this to be a wedge. If volume was right, i would short it instantly and heavy. Now i am still thinking about it. And before i forget, normally after the last breakout we should see an acceleration down. But as i have mentioned many times before, the chart tells a story, not just a picture.
WHat do i mean with this:
-We have a wedge (maybe)
-Volume is to high at the end
-No fast rejection and price dump from the high.
Just think about it, what if it IS a wedge, and because volume is higher than it should be (which means there are more buyers than it should have here), it supports the price from making a dive down and slowing this part of the wedge down.
Target of that flag was around 9100, if we fall short it's a weakness, or we could make one more jump to the 9100. As i am writing this, i have opened a small short position at 9665 and i will add again around 9100 with a stop around 9250. It's all (again) a small position
This looks like a wedge, but it only counts when those to orange area's are small fake outs. But the most important thing, the volume picture is wrong for this to be a wedge. If volume was right, i would short it instantly and heavy. Now i am still thinking about it. And before i forget, normally after the last breakout we should see an acceleration down. But as i have mentioned many times before, the chart tells a story, not just a picture.
WHat do i mean with this:
-We have a wedge (maybe)
-Volume is to high at the end
-No fast rejection and price dump from the high.
Just think about it, what if it IS a wedge, and because volume is higher than it should be (which means there are more buyers than it should have here), it supports the price from making a dive down and slowing this part of the wedge down.
Target of that flag was around 9100, if we fall short it's a weakness, or we could make one more jump to the 9100. As i am writing this, i have opened a small short position at 9665 and i will add again around 9100 with a stop around 9250. It's all (again) a small position
Catatan
Where i have mentioned that i opened my short position at 9665, that had to be 8965 :)Catatan
This post was meant to be a educational one. I am almost certain i did it right.Catatan
Hello guys, i won't to point out this chart again. It was supposed to be an educational idea, but something went wrong i think. We have our answer now and i think it got it figured out quite well. Of course it could be luck, to early to say it will go like this every time, but i think we will see more of these in the coming period.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.