BTC Head and Shoulders to about 15-17k (Neckline re-test now)
This is another opportunity to short BTC from the top, if it does reverse here from the neckline, it already re-tested it perfectly on the small timeframe, but now it is testing it on the weekly timeframe, and if successful, the bears can send the price down towards the target which is around 15k.
This re-test even turned me bullish when I know about this pattern, I just thought it will crush the neckline, but today it touched 42k and started dropping, showing the bears might be still very much ready to attack.
I am short for now, and if anything changes, and the neckline gets broken, I will have to re-evaluate. But now , it is a low risk, high reward situation for shorting in my view, seeing that this pattern is in fact technically active, and it would be going against it to long here.
Ofcourse if you are shorting I would not recommend a TP at 15k-17k, because there should be bounces along the way, and really for big % it is not optimal to hold shorts (thats why they are called shorts)
What do you think about this idea? Am I getting trapped by the big bad bulls here?
This re-test even turned me bullish when I know about this pattern, I just thought it will crush the neckline, but today it touched 42k and started dropping, showing the bears might be still very much ready to attack.
I am short for now, and if anything changes, and the neckline gets broken, I will have to re-evaluate. But now , it is a low risk, high reward situation for shorting in my view, seeing that this pattern is in fact technically active, and it would be going against it to long here.
Ofcourse if you are shorting I would not recommend a TP at 15k-17k, because there should be bounces along the way, and really for big % it is not optimal to hold shorts (thats why they are called shorts)
What do you think about this idea? Am I getting trapped by the big bad bulls here?
주문취소됨:
There is good evidence to suggest we could also have already hit the bottom, based on the weekly bollinger bands and further, bounce on the 20 month moving average. #
Link of chart:
Here I see two pathways and we will know soon enough , whatever happens near that neckline. On this post I kind of drew the neckline a bit inacurate, in the chart link here it is the accurate one.
Link of chart:
Here I see two pathways and we will know soon enough , whatever happens near that neckline. On this post I kind of drew the neckline a bit inacurate, in the chart link here it is the accurate one.