Bear or Bull? Symmetrical Triangle on BTC.
A symmetrical triangle... but confirming a continuation on which trend?
Yesterday I posted about the Bearish Gartley. But this symmetrical triangle formed right after could be confirming either the downtrend since December... or the steeper uptrend since last Spring.
Hard to say. Intuitively I would imagine it would take a much large symmetrical triangle to consolidate such a long trend.
As such, since this has formed over the past few days... I'm assuming it's consolidating the shorter term trend...
And I'm learning bearish.
But am scaling in with very tight stop-losses. Because you never know with bitcoin. I always leave room for the upside.
These TA signals and patterns are just guides. Nothing is guaranteed. And probabilities don't change because of magic shapes.
Happy Trading.
-SJ
Yesterday I posted about the Bearish Gartley. But this symmetrical triangle formed right after could be confirming either the downtrend since December... or the steeper uptrend since last Spring.
Hard to say. Intuitively I would imagine it would take a much large symmetrical triangle to consolidate such a long trend.
As such, since this has formed over the past few days... I'm assuming it's consolidating the shorter term trend...
And I'm learning bearish.
But am scaling in with very tight stop-losses. Because you never know with bitcoin. I always leave room for the upside.
These TA signals and patterns are just guides. Nothing is guaranteed. And probabilities don't change because of magic shapes.
Happy Trading.
-SJ
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