Bitcoin Update Monday Trade Points
Still messing with heads as it makes a 4th and likely final
wave up before it falls away again. Once it breaks below the
lower parallel of the continuation pattern it's now tracking
within it should begin to fall away faster and can be shorted
again from there with stops above the line when broken.
Unlikely to trade much higher than 7080-7100 range on
Coinbase before it falls away again.
The overall pattern, despite the rally attempt, is still bearish
so far.
Beyond this little rally underway now it will have to move
above 7100 and hold to flip back to positive again in near
term - that would be a surprise - but we still need to be ready
for it in case - in which case it will start flipping stops again
and can rally fast to 7316 at highest before it comes off again.
Still messing with heads as it makes a 4th and likely final
wave up before it falls away again. Once it breaks below the
lower parallel of the continuation pattern it's now tracking
within it should begin to fall away faster and can be shorted
again from there with stops above the line when broken.
Unlikely to trade much higher than 7080-7100 range on
Coinbase before it falls away again.
The overall pattern, despite the rally attempt, is still bearish
so far.
Beyond this little rally underway now it will have to move
above 7100 and hold to flip back to positive again in near
term - that would be a surprise - but we still need to be ready
for it in case - in which case it will start flipping stops again
and can rally fast to 7316 at highest before it comes off again.