Updated

BTC - Color Graded

Before any of you jump up and scream, "That's not how you identify a pattern!!", namely the Bullish Gartley (***which may or may not be in formation***) is just an imaginary depiction to support the case of Scenario 2.

Scenario 1 - Bull Trap
Scenario 2 - Continued Bullish Momentum
Scenario 3 - Bear Trap
Scenario 4 - Long Due Correction
Scenario 5 - RIP?

I don't see the need for more words here. Questions are welcome!

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FYI, the arrows try best to point out the possible price range and timeline

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It would be nice if the visitors leave in the comment section below, which scenario you think is more likely.

As always, please leave a like, if you think my idea is like worthy! Peace!

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I'm more convinced than ever, that this has a very high probability of playing out.

Trade active

I would say,

Short Entry: 10660 with SL: 10820
Target: 8500

***Trade at your own risk, I'm not accepting liabilities***

Order cancelled

On second thoughts, that was cocky! It's always better to be safe than sorry. I will update with targets again, when things actually start playing out.

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Breaking out upwards!! Be cautious, better to buy a pull back!!

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If its not a trap and actually plays out, first target @ 11429

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Second Target @ 11690

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While the target for the symmetric triangle lies at 12333, doesn't mean BTC has to reach for it.

Trade active

Trade closed manually

Close as you see fit

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Updates:

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Looks like scenario 2 is in play, over the days and weeks its quite hard to recollect even if you make notes, why you ended up making such a decision!! :(

TulpenFieber

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TulpenFieber

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