BITCOIN Expanding Triangle breakout?
Should I be worried and cut my losses because of the war in the Middle East and the impending recession?
For me, no. The lower time frames are full of noise, and if you know your game plan, don’t panic. If you are a long-term investor, that’s fine; if you like to DCA, you’re doing great! What’s important is knowing when to exit.
For me, I'm still bullish unless we break the protected low at
48K, because that might be when I need to change my bias.
If you notice the chart, it has retested the expanding triangle three times. I think the fourth retest will be rejected again, but the fifth one will definitely break out.
I think my safe exit will be between 95K and 100K, but we’ll see because we’re not market makers.
For me, no. The lower time frames are full of noise, and if you know your game plan, don’t panic. If you are a long-term investor, that’s fine; if you like to DCA, you’re doing great! What’s important is knowing when to exit.
For me, I'm still bullish unless we break the protected low at
48K, because that might be when I need to change my bias.If you notice the chart, it has retested the expanding triangle three times. I think the fourth retest will be rejected again, but the fifth one will definitely break out.
I think my safe exit will be between 95K and 100K, but we’ll see because we’re not market makers.
تعليق
I anticipate that the longer the market consolidates, the more powerful the resulting breakout will be. This view is supported by two major bullish narrative: the 𝙐.𝙎. 𝙋𝙧𝙚𝙨𝙞𝙙𝙚𝙣𝙩𝙞𝙖𝙡 𝙀𝙡𝙚𝙘𝙩𝙞𝙤𝙣 on November 5 and the 𝙁𝙊𝙈𝘾 𝙢𝙚𝙚𝙩𝙞𝙣𝙜 on November 7, both of which could fuel a bullish narrative in the crypto market.
In my view, there’s likely one last shakeout ahead before we experience a parabolic move, with potential upside targets significantly extended.
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