BTC is poised for a significant move, and you might not like it.

2024년 7월 2일

On June 14, we said a break below $66K could take the price to $60K. The price dropped as low as $58.5K. Today, Bitcoin is stuck in a descending triangle pattern, and a breach to 59K could possibly send the price to 48K, while a breach to $72K could send the price to $84K.

Traders have two options right now: trade the inside of the triangle, aiming for a recovery towards 70K ish, or wait for a breakout. Like last time, waiting for the pattern to play out is all there is to it.

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2024년 7월 17일

노트

The risk to reward was good on the way down, even though the price did not drop all the way to the bottom this time around. A stop loss could have been placed just above the breakout candle high. It is also interesting to note what happened when the price pushed above 59K, as a failed breakout sometimes turns into an excellent buying opportunity.