Rising wedge (BTC) 88% chance of breaking down (bearish) daily
Hello traders,
Nothing has changed on the BTC daily timeframe, still inside the rising wedge until proven otherwise and these patterns have an 88% chance of breaking to the downside, plus the downtrend from ATH's still hasn't been retested after breaking out.
I'll be posting updates from now on only on the 4 hour and daily timeframe as I'm wanting to stick to timeframe's that are more reliable because lower timeframe traders often get trapped while other timeframe's are showing a completely different possible outcome.
I was wrong on my previous short, and should of been paying more attention to the 4 hour timeframe because it was oversold on the momentum oscillator (stoch rsi) and should have considered the possibility of another push up to the resistance trend-line of the rising wedge.
Going forward I'll be trading with 3-5x leverage and keeping 50% capital in USDT to cover any trades if need be.
My next goal is 5 figures and hope to do this in coming months.
Stay safe and have a great weekend.
September is going to be a red month I'm calling it now.
Nothing has changed on the BTC daily timeframe, still inside the rising wedge until proven otherwise and these patterns have an 88% chance of breaking to the downside, plus the downtrend from ATH's still hasn't been retested after breaking out.
I'll be posting updates from now on only on the 4 hour and daily timeframe as I'm wanting to stick to timeframe's that are more reliable because lower timeframe traders often get trapped while other timeframe's are showing a completely different possible outcome.
I was wrong on my previous short, and should of been paying more attention to the 4 hour timeframe because it was oversold on the momentum oscillator (stoch rsi) and should have considered the possibility of another push up to the resistance trend-line of the rising wedge.
Going forward I'll be trading with 3-5x leverage and keeping 50% capital in USDT to cover any trades if need be.
My next goal is 5 figures and hope to do this in coming months.
Stay safe and have a great weekend.
September is going to be a red month I'm calling it now.
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