BTCUSD Inception, day 17-12-2019. DBC forming... Again?
More visible, more probable:
-Dashed lines; Possible forming patterns
-Solid lines; Confirmed patterns
-Dotted lines; Possible price-action trajectories
Can you see the similarities? Past performance does not mean future results, but if this doesn't make your crypto senses tingle. I don't know what does, however it could just be me. Nevertheless, as you can see. We have a pretty good looking possible opportunities coming towards us.
If the this bearish trend continues, I'll keep my short position open until the $6k - $6.3k region. Once the support of the forming DBC is confirmed. Then I will open up a long position from there, hoping for the big break out to the upside. Most probably to retest the resistance of the huge DC/FW in the massive ST or bullish pennant(The end game). To be concluded...
-Dashed lines; Possible forming patterns
-Solid lines; Confirmed patterns
-Dotted lines; Possible price-action trajectories
Can you see the similarities? Past performance does not mean future results, but if this doesn't make your crypto senses tingle. I don't know what does, however it could just be me. Nevertheless, as you can see. We have a pretty good looking possible opportunities coming towards us.
If the this bearish trend continues, I'll keep my short position open until the $6k - $6.3k region. Once the support of the forming DBC is confirmed. Then I will open up a long position from there, hoping for the big break out to the upside. Most probably to retest the resistance of the huge DC/FW in the massive ST or bullish pennant(The end game). To be concluded...
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Usually I wouldn't venture this far in the patterns, but I'm feeling ballsy today. I'm currently seeing another DT possibly forming in the 5min charts, in short more bearish continuation. Going to add more contracts/funds into my short position at the retest of the resistance.
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P.S. I do not recommend threading this far in any crypto markets, due to its volatility. But since I have a safe position already open, I can take a bit more risk.
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Apparently the pattern has become a ST or in this case a bear pennant. Since its in a downtrend. Bearish continuation highly imminent.
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Not sure yet, but if the fib fans are correct. This could turn into a bear flag/AC
