Morning guys,
BTC was not able to reach our 4085 target (at least right now) and dropped. Recent plunge creates potentially tricky situation when BTC leaves behind uncompleted targets.
This is additional risk factors for bears as market could return and hit targets before real downside reversal. Thus our task is to eliminate or minimize the impact of this risk.
On 4H chart (check previous update, guys), BTC was not able to complete butterfly erase it. Now we have H&S pattern on 1H. First step that we're watching for is deep upside retracement.
We probably will get "222" sell around 4000-4030 area and it also will be top of the right arm. Here is just two ways for taking short position. Either do it right at the top of the arm with stops above 4090 (because targets still could be hit). If it is too much - wait when H&S will start to work and BTC starts dropping below neckline. It is not as attractive but safer.
BTC was not able to reach our 4085 target (at least right now) and dropped. Recent plunge creates potentially tricky situation when BTC leaves behind uncompleted targets.
This is additional risk factors for bears as market could return and hit targets before real downside reversal. Thus our task is to eliminate or minimize the impact of this risk.
On 4H chart (check previous update, guys), BTC was not able to complete butterfly erase it. Now we have H&S pattern on 1H. First step that we're watching for is deep upside retracement.
We probably will get "222" sell around 4000-4030 area and it also will be top of the right arm. Here is just two ways for taking short position. Either do it right at the top of the arm with stops above 4090 (because targets still could be hit). If it is too much - wait when H&S will start to work and BTC starts dropping below neckline. It is not as attractive but safer.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。