BTC: Head & Shoulders on 4H!
Hello dear crypto friends, we have a nice potential for a trend reversal with BTC, if we see confirmation on the H&S that has shaped up.
RSI is a good confirmation in this case, since we're on a Divergence here:
If the bulls manage to hold the range, we have a clear Equilibrium between 8,9 and 9,4, and can break in either direction from there:
Should we lose 4H higher Low/uptrend, we would look for health consolidation on the Daily chart, as the last higher Lows have been quite some while ago:
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing trading metrics & online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
RSI is a good confirmation in this case, since we're on a Divergence here:
If the bulls manage to hold the range, we have a clear Equilibrium between 8,9 and 9,4, and can break in either direction from there:
Should we lose 4H higher Low/uptrend, we would look for health consolidation on the Daily chart, as the last higher Lows have been quite some while ago:
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing trading metrics & online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Related publications
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.