Morning folks,
So, market is confirming our suggestion of deeper retracement, and now price takes more evident shape of H&S pattern on 4H chart. It is very comfortable to deal with it as you definitely know the target and invalidation point.
Potentially pattern has the target at 38K - around next major daily Fib support area.
So, for long entry you have to wait either H&S failure - if price jumps above the right arm's top or its completion around 38K. Bears could consider short entry around minor resistance levels with stops above the right arm's top - this is classic way to deal with it.
Another reason why we suggest that market could proceed to 38K, or at least try to challenge recent lows is bullish pattern on Dollar Index, so BTC probably remains under pressure this week.
So, market is confirming our suggestion of deeper retracement, and now price takes more evident shape of H&S pattern on 4H chart. It is very comfortable to deal with it as you definitely know the target and invalidation point.
Potentially pattern has the target at 38K - around next major daily Fib support area.
So, for long entry you have to wait either H&S failure - if price jumps above the right arm's top or its completion around 38K. Bears could consider short entry around minor resistance levels with stops above the right arm's top - this is classic way to deal with it.
Another reason why we suggest that market could proceed to 38K, or at least try to challenge recent lows is bullish pattern on Dollar Index, so BTC probably remains under pressure this week.
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/
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
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/
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。