This idea has been working well for me so far. I just apply the bounce/triangle pattern from the January 18 bounce to the current bounce (because to me they looked so similar) and use it for day trading. Now not so good for day trading, but we have a nice run up to the top of the channel at 9650.
Here I actually split the Jan 18 into two pieces and moved them until got the best fit.
Hopefully the pattern holds ;)
Here I actually split the Jan 18 into two pieces and moved them until got the best fit.
Hopefully the pattern holds ;)
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Still long on BTC. The successfully price retested the support line twice. Just a waiting game now.
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BTC price looks like it's being rejected at descending resistance, I think this will lead to move downwards followed by a retest of the top of the channel. rejection here will see us going down to 6000 again. Failure to hold here will see us falling lower to the major support zone.