The market's intentions for btcusd.

13. Apr.

A triangle is invalidated, another is born and is monitored again. The graphic patterns, as I always write, depict the market's intentions and not the future, they are hypotheses, so they can be invalidated and change scenarios in an instant. Yesterday we had proof of why I am often very cautious and always repeat the same things about prudence and stop losses. Help for this hypothesis of the ascending triangle could be given by the macd, in divergence with the price which, while the latter marks ascending lows, the macd signals increasingly lower lows crossing downwards, demonstrating that we are in a correction that is for now short but which could even be of a higher degree, we cannot say for sure. One thing we can do is do nothing if we are already in and the stop loss is far away, because yesterday's movement, although very strong, comes after a very powerful and long-lasting rise, which started on January 23rd if we look at the medium term and from September if we look at the intermediate period. While you are out and want to buy, you could wait for the 58k USD as many are doing, or wait for the intermediate correction, unless this is underway, there will be other opportunities to snatch lower prices. If instead you want to go short I wish you the best, you might even guess, but know that you would be against the underlying trend.