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Bitcoin (BTCUSD)

  • #2,241
  • Jun 16, 8:35am (9 hr ago) Jun 16, 8:35am (9 hr ago)
Quoting Lillywizzy
{quote} True brother, I am just being optimistic of the up move but the triangle resistance should actually be TP1.
Triangle resistance is just that resistance. Resistance can always be broken.
One of my best trading chart patterns is the expanding triangle pattern.
Once I recognise it and price is at the right location I do not hesitate to act. I act first and then think later
And I have been very successful with it.
I am not saying this one is the same but just putting this pattern out there
The image shows longs but flip it and the short side works well too
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 5 KB
If you think you can or cannot do it you are correct
  • #2,242
  • Jun 16, 9:24am (8 hr ago) Jun 16, 9:24am (8 hr ago)
Quoting Olu
{quote} Triangle resistance is just that resistance. Resistance can always be broken. One of my best trading chart patterns is the expanding triangle pattern. Once I recognise it and price is at the right location I do not hesitate to act. I act first and then think later And I have been very successful with it. I am not saying this one is the same but just putting this pattern out there The image shows longs but flip it and the short side works well too {image}
At the good side of the market, they hold.
  • #2,243
  • Last Post: Jun 16, 9:27am (8 hr ago) Jun 16, 9:27am (8 hr ago)
Quoting Toboso01
{quote} On the daily chart, BTC is currently facing a critical challenge: it must break through the $67,500 resistance level to regain upward momentum, or conversely, drop below $65,000 to resume the downside trend. BTC remains trapped within a significant historical consolidation zone. Today’s Scenarios: Bullish Goal: The bulls' primary objective is to fill the liquidity gap left by yesterday's price action. While the price is currently trading above today’s open, it is facing stiff rejection in the $66,700 – $66,900 range. Bearish Goal: The bears...
Ok, I entered the trade as planned. We are currently in a consolidation area, so I will closely watch two specific levels before the price reaches 65,000. They could act as liquidity zones or support where I might look to break even:

  1. 1st: Yesterday's Open around 65,700
  2. 2nd: Yesterday's Low around 65,400

Attached Image (click to enlarge)
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