Bitcoin made this huge pennant in the last couple days and by this point you cannot tell if Bitcoin will move higher to touch a key point like 10K dollars or a lower key point like 5K. If you see someone calling a bull run here or a bear run it is just a speculation or a trade they are making. At this point the probability of breaking up or down is a 50/50 and what I am doing here is waiting for the breakout on Bitcoin to trade it again and meanwhile I will just relax and load up some altcoins that have strong potential in my opinion.
This is a fast and simple tradingidea/comment just to show you how you can't say where Bitcoin is likely to go right now since the probabiliity is not helping significantly any trend right now.
Komen
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So what I want to show you is that there is no reason to try predicting it right now. Just wait for the breakout and that's it.
@chartmojo, ..will get apexy for awhile..then set up a tight "decision zone" range..then some probing up/down trades..to test
direction strength/weakness..then strength will pile on and push into weakness..it will get revealed in the probing stage...would
be looking at it in the context of other cc's..if they start running and the up probe looks strong...they'll push up..and vice versa
chartmojo
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@chartmojo, there's a whole dynamic or tendency/probability around pennants/apexes
chartmojo
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@chartmojo, Bruce Kovner..5 bil net worth trader.."imagine different scenarios....take the one that confirms.."