Bitcoin is on the edge of the decisive move!
Hello, everyone!
The correlation between S&P500 and the Bitcoin is annoing me to be honest. As you know, I executed long position on the $36300 according to the strongest signal in TA. I wanted to catch the big bounce, but the fact that the correlation with traditional market is high, I understand that the Bitcoin haven’t much time to grow. The S&P500 have just started the bear market and we can see just the little bounce.
Meanwhile the Bitcoin if forming the very interesting Symmetrical Triangle. I hate this pattern because of high number of manipulations with it. I drew two possible scenarious.
1)The positive scenario when the price break through to the upside. In this case it’s vital to break through the major resistance – the S1 level of monthly CPR ($39160).
2)The negative scenario with manipulation. I don’t want to see this scenario, but it’s probability is 50%. In this case the lower low is almost guaranteed.
Be very careful!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
The correlation between S&P500 and the Bitcoin is annoing me to be honest. As you know, I executed long position on the $36300 according to the strongest signal in TA. I wanted to catch the big bounce, but the fact that the correlation with traditional market is high, I understand that the Bitcoin haven’t much time to grow. The S&P500 have just started the bear market and we can see just the little bounce.
Meanwhile the Bitcoin if forming the very interesting Symmetrical Triangle. I hate this pattern because of high number of manipulations with it. I drew two possible scenarious.
1)The positive scenario when the price break through to the upside. In this case it’s vital to break through the major resistance – the S1 level of monthly CPR ($39160).
2)The negative scenario with manipulation. I don’t want to see this scenario, but it’s probability is 50%. In this case the lower low is almost guaranteed.
Be very careful!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Get access to private PineScript strategies and turn script alerts into orders at your exchange account with easy-to-set up bots
Get free alert bot:
skyrexio.com
Get free alert bot:
skyrexio.com
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.