BTC Bear Flag, Reistance and Triangle consolidation formation
Diupdate
Bear flag formed and triangle pattern formed on bitcoin. Took a short entry at the blue line and placed a protective stop at the red line. Price consolidation is becoming tighter and tighter as he hours go by. Either BTC will explode up or down with my analysis showing more of a bearish sentiment. Target will be at the 9650 area; a 1,750% return on my initial trade investment.
Komentar
Correction: I meant to say Bear Pennant not bear flag.Komentar
Correction on the price target. Should be $6950 and not $9560. Thanks joshclouds for notifying me.Komentar
Trade has reached a 700% ROI and stop market loss moved to a little under breakeven. I've decided to take about 1/3 of my position size off as well.Komentar
BTC arriving into larger time support at the moment. Moving stop down to 7468 to secure more profits.Komentar
Stop loss moved to $7309.
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