Simple Bitcoin Comparison to last breakout shows us...
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Patterns are everything in the market. When we're given the patterns ahead of time by analyzing previous price action, we can know what to look out for in order to catch the breakotus before they happen.
For us, on bitcoin, we know we have this red algorithm that needs to prove itself before breakouts. We can see that similar to last breakout, we're approaching that tapering algorithm on the sell-side in addition to our buying continuation orange & green. Strong likelihood of a bounce here and at least a retest of purple if not an ultimate HTF breakout.
Happy Trading :)
For us, on bitcoin, we know we have this red algorithm that needs to prove itself before breakouts. We can see that similar to last breakout, we're approaching that tapering algorithm on the sell-side in addition to our buying continuation orange & green. Strong likelihood of a bounce here and at least a retest of purple if not an ultimate HTF breakout.
Happy Trading :)
Nota
In response to someone in the comments about when to buy - the answer is different for a short term trade than a long term trade. Short term, on the dip and activation of red buying, in addition to the daily close back above a tapered buying level.For a longer term trade, we are looking to prove the white tapering channel in order to break out. This will take more time - so in the meantime we are taking the trades in between toward the HTF setup
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