#bitcoin view after the #COVID-19 & #Oil Price Plummet
Everything happens in a systematic pattern.
This is also valid for any equities where its price is driven by the forces of supply & demand forces (e.g., bitcoin, stocks, etc).
View:
The ascending triangle is seen in weekly candles.
The current crash put the lowest price, at the press time, considerably at the top of the B-D line of the triangle.
The 3rd halving month is coming and within the triangle period (if it is broken out) that becomes a connection between the fundamental reason and technical reason that matched each other.
Setup:
Buying on current support is logical as long as we stop our loss when the triangle is broken down.
If the B-D line of the triangle is truly the support and we open a position now, it will be the starting point to the next race.
We will be rewarded later. Calculate the risk & rewards first before doing this risky strategy.
This is also valid for any equities where its price is driven by the forces of supply & demand forces (e.g., bitcoin, stocks, etc).
View:
The ascending triangle is seen in weekly candles.
The current crash put the lowest price, at the press time, considerably at the top of the B-D line of the triangle.
The 3rd halving month is coming and within the triangle period (if it is broken out) that becomes a connection between the fundamental reason and technical reason that matched each other.
Setup:
Buying on current support is logical as long as we stop our loss when the triangle is broken down.
If the B-D line of the triangle is truly the support and we open a position now, it will be the starting point to the next race.
We will be rewarded later. Calculate the risk & rewards first before doing this risky strategy.