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/
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
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/
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.