Descending Wedge:
Current Trade Idea: Flip 42 to invalidate for the "we go higher" bias. Lose 37.3 for the "we go lower" bias.
Short Term: (LTF) Inverted tilt pennant or wedge? Lose 37.3 and see 35-33 (tilt pennant), flip 38.7 and see 42 tested (d.wedge)
Mid Term: Bear Flag, copied channel as is the rule, 23k peak low possible, reclaim 28 if BTC bounces from lower, reclaim 35 ( possible point of future break out)
Current Trade Idea: Flip 42 to invalidate for the "we go higher" bias. Lose 37.3 for the "we go lower" bias.
Short Term: (LTF) Inverted tilt pennant or wedge? Lose 37.3 and see 35-33 (tilt pennant), flip 38.7 and see 42 tested (d.wedge)
Mid Term: Bear Flag, copied channel as is the rule, 23k peak low possible, reclaim 28 if BTC bounces from lower, reclaim 35 ( possible point of future break out)
Comment:
Didn't get bounce to 42, rejected at 40. Inverted tilt pennant confirmed. Target for tilt pennant is 32.9. I expect a possible relief bounce from there. 23k-28k is still on the table in the long term.
Trade active:
1st target reached at 28.5k, I've got 25k as Goblinville
Comment:
25.5k was tapped, underside test of 32.4, now testing bottom of ascending channel at 27k. needs to hold above 26.8 or test 24.4
Comment:
Reclaim 24k to go long