BitcoinShort
Missed 101.5K sell? Don't worry
Morning folks,
So, our H&S has started perfect. Right from the area that we've discussed last time - Agreement of Fib resistance and our XOP target on 4H chart, where the top of right arm should be formed.
Obviously now we consider no longs by far. H&S target stands around 85.5K - in the middle of wide K-support area of 82-89K.
If you missed entry around 101K, we could get 2nd chance around 96-96.5K, but do not expect too extended pullback. Price is at the slope of the shoulder, naturally this is not the moment for deep upside pullbacks. I would say that deep retracement, back to 100K would be unwelcome sign, suggesting weakness of the bears.
So, our H&S has started perfect. Right from the area that we've discussed last time - Agreement of Fib resistance and our XOP target on 4H chart, where the top of right arm should be formed.
Obviously now we consider no longs by far. H&S target stands around 85.5K - in the middle of wide K-support area of 82-89K.
If you missed entry around 101K, we could get 2nd chance around 96-96.5K, but do not expect too extended pullback. Price is at the slope of the shoulder, naturally this is not the moment for deep upside pullbacks. I would say that deep retracement, back to 100K would be unwelcome sign, suggesting weakness of the bears.
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/
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