Potential price reversal zone. But do not rush. Day candles (volatility) are not large. No seller volume. A symmetrical triangle forms at the top of this local trend. The goal of the figure since its potential breakthrough is about 20%. Symmetrical triangle - 50/50 uncertainty figur. Its formation, breakthrough and price fixing will give a further direction to the market.
For clarity, past local trends have been specifically shown to better understand the situation and work. In the previous trend, the reversal pattern after breaking the uptrend line was the “head and shoulders” pattern.
If you are not in a position, the entry will only be on a breakthrough or a pullback after breaking a triangle, depending on your trading strategy. If you are not sure about something, use a stop loss. It is MANDATORY to use stop loss in margin trading.
How to trade in secondary trends in such situations has been repeatedly described in training articles written by me on "live trading examples." I will not repeat myself.
You must understand that Bitcoin is an indicator of the entire market.
The past trading idea of BTC / USD, the scenario of which is developing in this situation. BTC / USD Preservation of a position in a trend. Ascending wedge. Important area.
Trend development and testing of an important reversal zone.
In this trading idea, I showed the global trend of the BTC / USD pair. BTC / USD Trend Trading. Important area. Fantastic scam.
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As was shown in the trading idea, a symmetrical triangle formed and at the indicated time there was a breakdown of the triangle.
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BTC / USD Secondary uptrend continues. After separation, the symmetric triangle was redrawn by the price into an ascending triangle with a base width of 45%. The price is clamped. Coming soon.
An ascending triangle is a bullish formation, but there are cases (less than%) when it breaks. If you are not in a position, enter the market during the breakout or rollback after it, in the direction of the breakthrough of the triangle. Trend trading.
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An ascending triangle was struck down, thereby initiating a lateral movement. Now a downward wedge is being formed at the local level. Soon the denouement of this formation.
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Trade closed: target reached
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+31%
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Price is squeezed into a corner. Soon the outcome of the situation.
Trade closed: target reached
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+8.88% + 8.88% from the reversal zone in the local ascending channel, as shown. Enters the second reversal zone.
Trade closed: target reached
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Trade closed: target reached
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+ 13.76% the local target is taken with an accuracy of almost a fraction of a percent. No "cheating" or "sleight of hand". Understand where you are, who you are, what is the meaning of everything, throw the "cult of money" out of your head - the world will change. And if not, you will always be at the bottom of the pyramid with the insatiable desires of the "eternal hungry character".
You still think 11500? There is , I believe from before , a futures gap above us at 118xx ? I'm thinking we are going there . Also some are calling for Bitcoin dominance in the 50s soon ? It seems going up to me though. At least for now.
@SpartaBTC, we may or may not still be in a strictly 4 year cycle - it could take a 2 or 3 years longer - many think the logorhythmic scale it's a lengthening cycle perhaps - it makes sense