Bitcoin (BTCUSD): Crossroads Triangle
Previously, we initiated a short position @8170 based on a Ending Diagonal pattern: 
It may still be viable, but I ought to inform you that the overnight price action has clearly triangular nature. That means, that the break of 8300 will most likely lead to 8440 and higher prices.This would be the BULLISH TRIANGLE scenario presented on the right chart.
If we do manage to break below 8160, the sell-off will finally begin. This is the BEARISH TRIANGLE scenario presented on the left chart.
Personally, I don't mind taking a minor stop-loss or reversing position just above 8300. This is fine under my position-management rules.
It may still be viable, but I ought to inform you that the overnight price action has clearly triangular nature. That means, that the break of 8300 will most likely lead to 8440 and higher prices.This would be the BULLISH TRIANGLE scenario presented on the right chart.
If we do manage to break below 8160, the sell-off will finally begin. This is the BEARISH TRIANGLE scenario presented on the left chart.
Personally, I don't mind taking a minor stop-loss or reversing position just above 8300. This is fine under my position-management rules.
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