See comment for description (getting around a TradingView bug).
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The pattern quickly confirmed with a surge up to nearly 50% of the target before a serious failure occurred, exposing huge weakness in the market with a move down passed the right shoulder.
This break of the right shoulder was a cue to stop out of longs and flip to a short position with a target of $7600 - a target which was quickly reached.
Ultimately, this setup should have yielded an initial ~$250/coin loss followed by a ~$550/coin gain.
This break of the right shoulder was a cue to stop out of longs and flip to a short position with a target of $7600 - a target which was quickly reached.
Ultimately, this setup should have yielded an initial ~$250/coin loss followed by a ~$550/coin gain.
Trade stängt: målet nått
Lower timeframes are currently looking bullish.
I would not expect Bitcoin to reach the $8945 level and so would not advise holding a long until then, though I would strongly advise entering short there for at least a scalp.