Hi everyone,
I would like point out some interesting things, which can be spotted right now at BTC chart.
It is outlook without using any indicators, tools and other stuff.
As many before me spotted there is/was forming H&S pattern which everyone was expect to play out immiedietly, but it didnt, as market not working that way. Does that mean its done and cant play out in future ? I dont think so!!!
After It touch headline we had some sort of "bounce", but if we take a better look, that bounce its creating a Bear flag in which are we right now and there is just few days remaining since we come to conclusion IF it gonna break out of it and we continue our BEAR ride OR if we will be able to break this STRONGER resistance around 35.5-37k and start heading north.
What is very interesting and one should not overlook is, if we take "rulebook" of H&S patterns, we can se if we gonna break down and continue our bleeding there are LEVEL which are in strong conclusion with what happend previous on our BTC chart .
1. Our 50% of downside is exactly at ATH of 2017 bull run
2. Botton of H&S pattern is exactly at High of 2019 mini "bull" run
It can look like its not that important, but in REALITY its very important, since if we look at market/chart only as PRICE action which bounce between support/resistance , it showing where was our STRONG resistance at times before and it pointing to these prices/levels AGAIN!
1 Week outlook :
With that said one should be very carefull entering BTC market with expectations of great gains in near future and potentionally prepared that it could took much longer if buying at prices we are right now.
Best regards,
joecryptou
Those who like or agree with my analyse PLEASE click that like & follow button and dont be shy to leave comment with your opinion. Your positive feedback motivates me to providing more of my views. Wish everyone good luck in trading.
DISCLAIMER: This is not financial advice. One should always do his own research before taking decision enter markets.
I would like point out some interesting things, which can be spotted right now at BTC chart.
It is outlook without using any indicators, tools and other stuff.
As many before me spotted there is/was forming H&S pattern which everyone was expect to play out immiedietly, but it didnt, as market not working that way. Does that mean its done and cant play out in future ? I dont think so!!!
After It touch headline we had some sort of "bounce", but if we take a better look, that bounce its creating a Bear flag in which are we right now and there is just few days remaining since we come to conclusion IF it gonna break out of it and we continue our BEAR ride OR if we will be able to break this STRONGER resistance around 35.5-37k and start heading north.
What is very interesting and one should not overlook is, if we take "rulebook" of H&S patterns, we can se if we gonna break down and continue our bleeding there are LEVEL which are in strong conclusion with what happend previous on our BTC chart .
1. Our 50% of downside is exactly at ATH of 2017 bull run
2. Botton of H&S pattern is exactly at High of 2019 mini "bull" run
It can look like its not that important, but in REALITY its very important, since if we look at market/chart only as PRICE action which bounce between support/resistance , it showing where was our STRONG resistance at times before and it pointing to these prices/levels AGAIN!
1 Week outlook :
With that said one should be very carefull entering BTC market with expectations of great gains in near future and potentionally prepared that it could took much longer if buying at prices we are right now.
Best regards,
joecryptou
Those who like or agree with my analyse PLEASE click that like & follow button and dont be shy to leave comment with your opinion. Your positive feedback motivates me to providing more of my views. Wish everyone good luck in trading.
DISCLAIMER: This is not financial advice. One should always do his own research before taking decision enter markets.
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.