Wait for right arm and up...
Morning guys,
So, upstep is done - market shows upside bounce from our anticipated 3500 level, which is suggested by daily H&S shape. Now BTC has only one legal road - up.
Illegal reversal will mean H&S failure which suggests drop below the 3000$ Head level.
Now time has come for our "conservative" tactics, if you were scared a bit to buy right at the daily right arm bottom.
Here, on 1H chart, market has formed upside reversal swing after butterfly has been formed. It means that deep retracement should follow and, here, we also could get minor reverse H&S pattern.
I draw it as a combination of butterfly and "222" here. 5/8 Fib support stands around 3750$ level. This is potential entry area for those who would like to buy (against 3550$ lows). Potential target, as we've mentioned
before daily AB=CD, based on H&S.
Reverse down and breaking of 3550 lows will be early sign of collapse and drop below 3000$. Detailed video with all time frames analysis on our website (link at signature below), no advertisement or cross-links, as usual. pure analysis.
Good luck.
So, upstep is done - market shows upside bounce from our anticipated 3500 level, which is suggested by daily H&S shape. Now BTC has only one legal road - up.
Illegal reversal will mean H&S failure which suggests drop below the 3000$ Head level.
Now time has come for our "conservative" tactics, if you were scared a bit to buy right at the daily right arm bottom.
Here, on 1H chart, market has formed upside reversal swing after butterfly has been formed. It means that deep retracement should follow and, here, we also could get minor reverse H&S pattern.
I draw it as a combination of butterfly and "222" here. 5/8 Fib support stands around 3750$ level. This is potential entry area for those who would like to buy (against 3550$ lows). Potential target, as we've mentioned
before daily AB=CD, based on H&S.
Reverse down and breaking of 3550 lows will be early sign of collapse and drop below 3000$. Detailed video with all time frames analysis on our website (link at signature below), no advertisement or cross-links, as usual. pure analysis.
Good luck.
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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