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/
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.