Ride the Bitcoin Rollercoaster - Pt. 1

Harmonic Patterns, Fractals and Price Action are showing a strong correction is about to take place in this bull market.

Entry: 1200.
TP: 945.
Stop-loss: 1230.
R/R: 1 / 8.5.

Good luck!

Disclaimer: As usual, this is not a perfect prediction. Don't put all of your money into it. If you don't know how much to put, you can learn how to hedge properly by using common sense and a search engine. I will be posting updates as I have been doing in my previous posts.

Animated version:

Trade ativo:

Double Tops!

Comentário:

Arranged the chart a bit. Still double tops:

Trade ativo:

Bitcoin has been sideways for a bit but the first dojis are starting to show up. If you closed the short because we reached the stop-loss, this could be a good time to open it again. I expect the French Presidential Election to have a profound impact on the markets, especially between EUR/USD, where the EUR would devalue, USD rise in value and BTC, dump.

Comentário:

There is also a possibility that Bitcoin would pump because of the result of the French Election, considering a weakened EUR would lead to capital inflow into Bitcoin, although I see it as a remote possibility, taking into consideration the bullishness of the Alt-coins and the problems with the exchanges.

Trade ativo:

Trading still active!

Trade ativo:

Still on track...

Comentário:

In the previous update, the last pattern looks kind of like a bearish crab.

Trade ativo:

Trade ativo:

Crab Pattern will complete tomorrow. If it doesn't dump, this idea is totally invalidated and we're very bullish still.

TP1: 1160.
TP2: 945.

Let's see how it goes.

Trade fechado manualmente:

Crab pattern failed. This idea failed. I'm closing it manually.