Simon111

BTC history repeats itself - Improved version V2

Long
Simon111 Updated   
BITFINEX:BTCUSD   Bitcoin

Slight twist in history today as we had a fake out below the large triangle, the big money plays mind games


Improved targets - I noticed I made a mistake looking at my targets

The last - white - arrow is a risky trade, and even the third green arrow is tricky

Long hard on the first two arrows and stay safe after that
Comment:
For the frist green arrow 9090 is the greedy target 9050 is the conservative target
Comment:
Still bullish above 8550 - panic sell off after a failed push up, give it time we're still consolidating

Put stop loss at 8550 (8545)
Comment:
I panic closed at 8600, reopened at 8575 after seeing the bounce of 8550
Comment:
We might be forming a bull penant


atm we seem to struggling at the top of the triangle trying to break up, we will see what happens
Comment:
Improved version - I reviewed the green trend lines

1 seems more likely to me at this point

Comment:
Ok we won't be going in to the triangle ...

Comment:

Ok I thought we might turn momentum in the afternoon but I didnt expect this candle at 12
Comment:
We're seeing some hammering on the last few candles and as I am posting this we have red one, so the first white arrow won't be happening

Looks like we'll trade side ways and break up around 4 - 8 pm and then the daily candle would close above 9k and we'd have a good outlook for tomorrow

Comment:
This time with the Fibonacci's

Long position would between at the 0.5 fib at 8820 and the 0.382 fib at 8780
Comment:
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