BTC, calculated points of the big H & S
Hello Friends, Traders and Interested,
again an update to my past TA s according to the big H & S I am still watching.
At first, yes you can critizize me, because of my frequently changing the Neckline of this H & S. You are right, but it is really difficult in this BTC- market. Many other anylysts here fighting with identical Problems. But, I did and do not change the Neckline - position massive, just little corrections. Into the chart.
For this TA I used the 1 - hour chart, because I wanted to analyse the exact important points of this H & S. Why this? Because the H & S with the double top has two different highs. That might be on the first view not important, but it results into a not perfect symmetrical formation. I put the exact points into the chart. Due to the not symmetrical double top we also have a not symmetrical Neckline.
So I put a Neckline into the chart, which is symmetrical to the double top - Head. And this seems to be perfect. So you can see that this Neckline is just in this moment beeing retested from the outbreak ( retesting the Neckline is typical sign of a H & S pattern).
The actual high of this Neckline retest is 7095. It might get a little bit higher throughout the next hours, but not much higher. If we will go higher than 7.150, these here described H & S lines are wrong, or the H & S might fail completly.
So, in my opinion BTC is actually working at an very important point.
Lets wait and see. As always, no trading advice.
Trade on your own risk and trade safe.
Yours Sascha
A Like and a Follow makes me happy
again an update to my past TA s according to the big H & S I am still watching.
At first, yes you can critizize me, because of my frequently changing the Neckline of this H & S. You are right, but it is really difficult in this BTC- market. Many other anylysts here fighting with identical Problems. But, I did and do not change the Neckline - position massive, just little corrections. Into the chart.
For this TA I used the 1 - hour chart, because I wanted to analyse the exact important points of this H & S. Why this? Because the H & S with the double top has two different highs. That might be on the first view not important, but it results into a not perfect symmetrical formation. I put the exact points into the chart. Due to the not symmetrical double top we also have a not symmetrical Neckline.
So I put a Neckline into the chart, which is symmetrical to the double top - Head. And this seems to be perfect. So you can see that this Neckline is just in this moment beeing retested from the outbreak ( retesting the Neckline is typical sign of a H & S pattern).
The actual high of this Neckline retest is 7095. It might get a little bit higher throughout the next hours, but not much higher. If we will go higher than 7.150, these here described H & S lines are wrong, or the H & S might fail completly.
So, in my opinion BTC is actually working at an very important point.
Lets wait and see. As always, no trading advice.
Trade on your own risk and trade safe.
Yours Sascha
A Like and a Follow makes me happy
Note
Maybe we just saw a double top retest of the Neckline. See the Chart here:
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.