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Bitcoin BTCUSD Symmetrical Triangle Pattern is in play

Bitcoin BTCUSD Symmetrical Triangle Pattern is in play

Description:

Pattern /Reason: Symmetrical Triangle Pattern

Time Frame: H4 Chart

Accuracy of the Pattern: 83%

Setup No: BTUS081001

Recommended Lot: 0.10 at 10K

Trade Period: Medium Term

Active/Pending: Activated at 11500

Trade: Short

Entry: 11500

Stop Loss: 12000

TP1: 11150 / Reached

TP2: 10500 / Reached

TP3:10100/ Reached

Update: As seen on the below chart, a bullish Crab Pattern is emerging. We move our Take Profit level to 9600. We will buy at 9600.

TP 3: 9600 / Reached

Update: Bullish Crab is active. Trade Setup:

Trade: Long

Entry: 9600

Stop: 9200

TP1: 10100 / Reached

TP2:10700

TP2:11200

Update: As seen on the below chart, BTCUSD tested 10600 fractal. If the price breaks above 10700, it is likely to complete the bearish Bat Pattern at D. The setup of the pattern is:

Bitcoin BTCUSD Trade: Potential Bearish Bat Pattern

Trade: Short

Entry: 11250-11350

Stop: 11.550

TP1: 10.800

TP2: 10.300

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Bitcoin BTCUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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Ercu Kartas

Treasury Department Dealer Technical Analyst FX Trader

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