BTC - Probably going to form a bullish butterfly now
It looks like my previous analysis is going to be invalidated. The head and shoulders in the linked post will break and when we have a breaking of a head and shoulders we'll typically see a butterfly pattern. This would give a projection of a parabolic move up somewhere over 50. Pending orders to buy a dip, and if I see what I am looking for over the next couple days will update with new sell limits to short. I do think a parabolic move here would prove to be terminal, and BTC top no higher than 55K.
Yorum:
This trade is complete. I just noticed I called it a bullish butterfly, but it's a bearish butterfly. I took a bull trade assuming the pattern would form. Bullish versions are M and not W. Bearish trades filling.
Plan to enter into a drop lower.