No pattern is certain. Tight stop-loss recommended if you're trading in this confusing environment.
All the best.
-SJ
Comment:
Right after the slump downwards from this pattern, BTC has begun a symmetrical triangle.
A continuation pattern, but for what trend?
I would assume bearish, since that's the short term trend, and it's a short term pennant.
but the buying volume is spiking higher than the selling volume as the triangle progresses...
leaving me to believe that there's a possibility of a bullish break. Also, the 1 day candle just came in as a perfect Doji. Reversal signal.
I'm scaling in on the dips. Stop-losses tight.
If there's an upside to this, I'd like to be around for it.
But mixed signals make me reluctant to risk too much capital.
Happy Trading.
-SJ
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Right after the slump downwards from this pattern, BTC has begun a symmetrical triangle.
A continuation pattern, but for what trend?
I would assume bearish, since that's the short term trend, and it's a short term pennant.
but the buying volume is spiking higher than the selling volume as the triangle progresses...
leaving me to believe that there's a possibility of a bullish break. Also, the 1 day candle just came in as a perfect Doji. Reversal signal.
I'm scaling in on the dips. Stop-losses tight.
If there's an upside to this, I'd like to be around for it.
But mixed signals make me reluctant to risk too much capital.
Happy Trading.
-SJ