As commented in the related ideas section about
BTCUSD
, the previous consolidation zone between the 2 white lines, which I expected
BTCUSD
to break out and hence placed the buy stop order at 71800, already failed on April 13 when
BTCUSD
broke DOWN its MA-50 on war news. The expected trade therefore was never triggered and I am cancelling it today.
Now we need to wait for a new pattern to come. BTCUSD is currently moving in a bigger consolidation zone which is 60,000 - 70,000. The zone is quite big (15%) to be considered a pattern, and the fact the BTCUSD is trading below its MA-50 makes it harder to take long position.
Waiting time..
Now we need to wait for a new pattern to come. BTCUSD is currently moving in a bigger consolidation zone which is 60,000 - 70,000. The zone is quite big (15%) to be considered a pattern, and the fact the BTCUSD is trading below its MA-50 makes it harder to take long position.
Waiting time..
Both MA-20 and MA-50 are changing their direction to sideway and down, with the price trading below both.
With this situation, I still could not find a meaningful pattern for a long entry.