Morning folks,
So, the 1st part of our journey is over - BTC is at the 63K support area and the right arm's bottom. IT's time to make a decision on long entry. Because BTC is either go up right from here or it is not at all and collapse.
But... personally I do not like this H&S too much, because of too strong downside action on the right arm. That's why, just to protect yourself, if you want to buy - wait for some bullish pattern around. Say - butterfly as I draw it or minor patterns on 5-15min charts.
This H&S has big chances to fail. In this case 60-61K area is the next test, which is a major one, actually.
I mark this update as "bullish" just because of the pattern's nature. But, As I warned - I do not like it too much.
So, the 1st part of our journey is over - BTC is at the 63K support area and the right arm's bottom. IT's time to make a decision on long entry. Because BTC is either go up right from here or it is not at all and collapse.
But... personally I do not like this H&S too much, because of too strong downside action on the right arm. That's why, just to protect yourself, if you want to buy - wait for some bullish pattern around. Say - butterfly as I draw it or minor patterns on 5-15min charts.
This H&S has big chances to fail. In this case 60-61K area is the next test, which is a major one, actually.
I mark this update as "bullish" just because of the pattern's nature. But, As I warned - I do not like it too much.
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/
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
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/
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.