Since my last post mentioning the Adam and Eve bottom, we have almost perfectly hit the neckline.
We are nearing the trend line at about $11150 and if we manage to break it, Bitcoins price target will be at $13000+.
However, only one of these two big scenarios will occur:
- A straight break of 11.15k, resin for that being that too many are expecting a dip at 11.15k
- No break of 11.15k, a small retracement to 11.3k, followed by either a big major dump or actually a completion of the Cup and Handle formation.
How can you trade this?
-Short at 11.15k and put a tight stop loss above
- wait for a break of 11.15k and go long then
further updates will follow
We are nearing the trend line at about $11150 and if we manage to break it, Bitcoins price target will be at $13000+.
However, only one of these two big scenarios will occur:
- A straight break of 11.15k, resin for that being that too many are expecting a dip at 11.15k
- No break of 11.15k, a small retracement to 11.3k, followed by either a big major dump or actually a completion of the Cup and Handle formation.
How can you trade this?
-Short at 11.15k and put a tight stop loss above
- wait for a break of 11.15k and go long then
further updates will follow
