BTC long opportunity. Reverse H&S+bullish divergence+MACD cross
Updated
On the 4h chart BTC its clearly closing an inverse H&S plus the bullish divergen (red line) plus MACD cross over the 0 line (red circle), this can launch us to the resistance zone (in purple) and if we made it through it to the hole extent of the neckline to about 11,800.
Don't trade until the inverted H&S has close, its to risky. Happy trading.
Don't trade until the inverted H&S has close, its to risky. Happy trading.
Trade active
It seems the right shoulder was longer that I expected, remember that some times the H&S pattern retest the right shoulder. As long as we don't go below the initial depth of the right shoulder we are ok. But remember don't trade this idea unless it breaks the neck line, a full 4h candle must close above it. Please like this idea and I'll continue updating it.Trade active
We broke the neckline and we're on the run, expect some heavy resistance on the 9500 -9700 area. this is our first target so we can move to the 10,400 - 11,000 that is target number 2. I know a lot of guys here at TV called for the inverted H&S, but must of them a day after I did, give me some credit and like my idea so I'll continue updating it.Trade closed: target reached
2nd target reached. Now is time to see if the much larger inverted H&S closes. I would wait until the break out or accumulate positions on the 9,800 - 10,400 area.
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.