BTC Inverted Dragon The tragedy of faith Important areas Figures

Тема в разделе "English", создана пользователем Trading Ideas, 5 окт 2019.

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    BTC Inverted Dragon The tragedy of faith Important areas Figures
    BraveNewCoin Liquid Index for Bitcoin BNC:BLX
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    BTC - potential shapes of technical analysis figures depending on the breakout / price retention levels. A huge symmetrical triangle - a bear measured move - Triple top - Inverted Dragon.
    BTC / USD 1 week. I will write the zone algorithm and what will be drawn on the chart depending on the retention / penetration of a certain zone and levels.
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    A very important area of $ 7,000, all hopes for it. From it, there can be a movement up and the symmetrical HUGE TRIANGLE is drawn. It will be our victory and hope! As working up / down -50/50.

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    As you can see, from the very beginning of Bitcoin trading, this has already happened more than once.
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    If we assume that we will not hold this zone - as a result the residual confirmation of the “Bear measured move”.

    In 2014-2015, this formation - “Bear measured move” was formed and worked out.
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    BTC important areas on which further movement depends
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    The breaking of this zone will also mean - the break of the "Dragon Ridge" (uptrend line) Figures "Inverted Dragon" The first goal for the "Inverted Dragon" is the zone of his "Hump" - the region of $ 3200.

    Inverted Dragon. The figure is rare. But almost always fulfills.
    CONFIRMATION OF THE FIGURE WILL HAPPEN WHEN:
    The uptrend will break. This is the yellow line on the chart (Dragon Ridge)!

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    If we hold the zone of $ 3200 and the price goes up, the "Triple Top" will be drawn - the target is around $ 7000.
    Then you need to observe how the price will continue to behave. Or work out a fall from the "Triple Top" or conquer new heights of price.

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    The opposite situation, if God forbid, we will not hold the zone of $ 3200 (squeezes and takeaways do not count), I mean if the price fixes for a long time below this zone.
    Most traders will see which figure is drawn and what is confirmed.
    This will be a complete confirmation of the “Inverted Dragon”. And the second goal (the first area of the "Hump") is "Dragon Tail."

    Price will fall in an avalanche. How fantastic are the goals for developing shapes.

    As an option, we can’t stop at the last high of the 2014 pump ($ 1,100). It’s even hard to imagine the residual target of Dragon Tail - this is an area of $ 200- 70-80. I do not know what will happen for this, probably the event is equal - to the third world war.

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    I’ll write a couple of lines about the “Inverted Dragon” figure.

    “Inverted Dragon” is a reversal pattern that indicates almost the very beginning of a trend reversal. The formation of the “Inverted Dragon” tells the trader that the mood in the market may change soon and the current trend will unfold.
    The figure is a more modified version of the “Double Peak” figure, while signaling a change in the bull market to the bear market. But there is one fundamental difference from the “Double Peaks” figure.
    A prerequisite for the formation of the Dragon is a trend line drawn through the head and hump of this model ("Dragon Ridge").
    It is important that this trend line is clearly visible on the chart. The trend line plays an almost decisive role in the figure.
    “Inverted Dragon” and “Dragon” are not very common on charts. With the correct identification and understanding of the work, you can get a good profit on various time frames.
    The “Inverted Dragon” shape and its mirror image “Dragon” are very similar to the “Double Peak” and “Double Bottom” figures, however, they also have significant differences, which will be described below.
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    The potential profit corresponds to the length of the Dragon Tail, which, as a rule, is equal to the height from the point of occurrence of the trend line to the minimum point of its "Head". Simply put, the entire length of the Tail is your potential profit.

    Objectives of working out the figure "Inverted Dragon":

    The first goal will be at the level of the last minimum - the level of "Hump".
    The second goal will be at the very minimum value of the figure - the level of the "Head" or from the breakdown of the level of the "Dragon Ridge" - all growth from the "Head" to the highest point of the "Paw" is superimposed.

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    Be smart, act on a situation, not faith. Faith - kills.

    There should be a strategy and plan. At the same time, your strategy and plan should be plastic from market situations.

    Count in trading all your and others' options for action in advance.

    If you trade because of hopes and expectations, and not according to a trading plan, you follow a nervous and unprofitable crowd.
     
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