BTCUSD Head and Shoulders or Market Correction
Looking at the 4 hour chart the pattern looks like a Head and Shoulders, but is it? There are a few thing to note:
On the one hand:
The Daily MA50 Crossed the MA200 - Bullish Setup
BTC Halving is ~3 months away - Historically Bullish
$500 bullish candle on 2/11 - Perhaps a small short squeeze or series of large buy orders getting executed
On the other hand:
MACD and RSI turned south
Volume is still relatively low
$600+ bearish candle on 2/19 - Perhaps a small long squeeze or series of large sell orders getting executed
One thing is for sure; volatility is back! Welcome home Bitcoin.
This is just an observation of chart patterns. It is not meant to be a recommendation of any kind. do your homework and please hit the like button.
On the one hand:
The Daily MA50 Crossed the MA200 - Bullish Setup
BTC Halving is ~3 months away - Historically Bullish
$500 bullish candle on 2/11 - Perhaps a small short squeeze or series of large buy orders getting executed
On the other hand:
MACD and RSI turned south
Volume is still relatively low
$600+ bearish candle on 2/19 - Perhaps a small long squeeze or series of large sell orders getting executed
One thing is for sure; volatility is back! Welcome home Bitcoin.
This is just an observation of chart patterns. It is not meant to be a recommendation of any kind. do your homework and please hit the like button.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.