WoWCrypto

Possible Head and Shoulders relief rally for XBTUSD - Bitcoin

BITMEX:XBTUSD.P   Bitcoin
So we are in a zone with a lot of different possibilities, I have several charts that confirm this is going down into the low 5ks, possible high 4ks. But everyone wants to know.... "When's the bounce though?".. Well with the T D 9 on today's charts its possible this is the start of a relief rally the bulls have been looking for... I'm still short with a stop loss in profit for now, but it didn't hurt to open a low lever super small long while we were in the 6100s, which can also now have a stop loss set in profit. This is just a "maybe" chart in my eyes, something that I will keep an eye on. I wouldn't mind at all if we just lost support right now though and went into the 5ks. Good luck. Also don't forget that the start of the Right Shoulder can be lower than our current range.. so don't be surprised if we end up dropping down too the high 5k's before this possible head and shoulders scenario plays out. This will be "the bounce". If this starts to play out I will update this idea in the future.

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