Morning folks,
So, everything has happened as we discussed last time. Minor H&S led us to the big one. And now price stands at the point, where it has to either start working or to fail. And for any trader, who would like to trade this pattern, it is a decision making moment.
Thus, drop your time frame to 15 min chart and watch for market reaction around 111.3K support. If we get any bullish patterns there, then it is possible to try. Conversely, if H&S will fail - BTC probably will drop down to 100K area.
Unfortunately currently I can't exactly tell whether this H&S will work or not, just because price has touched support level a few minutes ago. It needs time to show a reaction. Although fast drop is not good for bullish reversal pattern, but it not always leads to failure.
I mark this idea as "bullish" but with some advance and mostly due to its nature. For position taking we still need clear patterns on lower time frames.
So, everything has happened as we discussed last time. Minor H&S led us to the big one. And now price stands at the point, where it has to either start working or to fail. And for any trader, who would like to trade this pattern, it is a decision making moment.
Thus, drop your time frame to 15 min chart and watch for market reaction around 111.3K support. If we get any bullish patterns there, then it is possible to try. Conversely, if H&S will fail - BTC probably will drop down to 100K area.
Unfortunately currently I can't exactly tell whether this H&S will work or not, just because price has touched support level a few minutes ago. It needs time to show a reaction. Although fast drop is not good for bullish reversal pattern, but it not always leads to failure.
I mark this idea as "bullish" but with some advance and mostly due to its nature. For position taking we still need clear patterns on lower time frames.
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/
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
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/
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.