BTCUSD Bull Flag Pattern Breakout Long Possibility
Atualizado
Bull flag pattern is forming on the 4 hrly and daily. Breakout expected soon and if upward breakout confirmed this could go up to at least above 7800-7900. Many short stop losses in this region so that could be the fuel for more upward momentum from there. If this manages to form new support above 7800 then high possibility that double bottom bullish reversal BTCUSD pattern has been achieved.
Trade with care and only with what you can afford to lose and always get your stop losses in profit. Any profit is good profit. Never think about what you could have gained:
Greed - Big Portion of Capital Per Trade + Shorter-term + High Risk Trading + High Leverage
Mentality: If you missed out on higher gains but always keep in mind that you could have also lost that trade.
Possible Consequences: High chance of account liquidation in a very short time
Patience - Smaller Portions of Capital Per Trade + Longer-term + Lower Risk Trading + Low Leverage (High leverage if you know how to keep the stop losses where you want them according to you chart analysis and prevent any liquidation - liquidations cost you additional loss)
Mentality: Always with stop losses in profit and satisfied that the trade has been successful and avoided possible loss.
Possible Consequences: Losses are kept low and live to fight another day
Trade with care and only with what you can afford to lose and always get your stop losses in profit. Any profit is good profit. Never think about what you could have gained:
Greed - Big Portion of Capital Per Trade + Shorter-term + High Risk Trading + High Leverage
Mentality: If you missed out on higher gains but always keep in mind that you could have also lost that trade.
Possible Consequences: High chance of account liquidation in a very short time
Patience - Smaller Portions of Capital Per Trade + Longer-term + Lower Risk Trading + Low Leverage (High leverage if you know how to keep the stop losses where you want them according to you chart analysis and prevent any liquidation - liquidations cost you additional loss)
Mentality: Always with stop losses in profit and satisfied that the trade has been successful and avoided possible loss.
Possible Consequences: Losses are kept low and live to fight another day
Nota
It would seem that the base of the triangle is forming a support on a longer term... adjust the triangle accordingly and only trade a breakout long when it happens... am still waiting to see what cme gap will appear on the cme futures chart... for those who do not know what a cme gap is... because cme btc future chart (google this search term to get the chart) only updates from Monday to Friday office hours in the US, any chart movements on weekends is not captured on the cme charts and as such a gap appears on the cme bitcoin futures chart when trading opens every Monday and so far as far as I can see on the 4hr and 1 day chart the gap always gets filled... this means if there is upwards movement on weekends, there will be a gap on the cme bitcoin futures chart when trading opens on Monday (and vice versa) and the price is expected to come back down in the near future to cover that gap on the cme bitcoin futures chart (timing varies - some get filled fast within days or weeks while others like the gap around 11+k has not been filled for months).. look through the cme bitcoin futures chart on the 4hr and 1 day time frame and you will see the gaps then these gaps getting 'covered' at a later time always! as to why these gaps have to get filled and why prices move in these directions to get the gaps filled? well no1 has that explanation... as for me... i think its just an excuse for manipulation!Nota
at this moment... move on to the 1 day chart to see a more clear bull flag pattern forming... only trade a breakout and beware of fakeouts... wait for confirmation on at least a 4 hr candle close above the downtrending triangle top trendline...
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