NO MORE INVERSE H & S PATTERN THEORIES PLS
Updated
Lets stop talking about Inverse H&S patterns please.
FIB LEVEL 0.236
1) ATH from 12/17 retraced to FIB LEVEL 0.236 on 2/6 @ 6k USD
2) High from 2/20 retraced to FIB LEVEL 0.236 on 3/18 @ 7.3k USD
3) Latest high on 3/21 retracted tp FIB LEVEL 0.236 on 3/28 @ 7.6k USD
I'm still in the bullish camp that we will reach 25k USD for BTC by the end of the year. In order to do that we have to stay above the GREEN DOTTED bullish support line from 7/16/18.
***What is BTC gonna do next?
I'm thinking BTC will pull up to test 8.7k, fail, retest it again and fail. After we slide out of the RED DOTTED bearish trendline. (If you think of it in terms of E.W. theory, we are doing a ABCDE correction.)
As for the date when we will know this bearish winter will be over. APRIL 16TH, 2018.
2 more weeks to go! Keep in mind that BTC has been in a major bull run for BTC since January 12th of 2017 year.
This analysis is for educational purposes only and not financial advice.
The Unicorn of the Sea
- Narwhal
FIB LEVEL 0.236
1) ATH from 12/17 retraced to FIB LEVEL 0.236 on 2/6 @ 6k USD
2) High from 2/20 retraced to FIB LEVEL 0.236 on 3/18 @ 7.3k USD
3) Latest high on 3/21 retracted tp FIB LEVEL 0.236 on 3/28 @ 7.6k USD
I'm still in the bullish camp that we will reach 25k USD for BTC by the end of the year. In order to do that we have to stay above the GREEN DOTTED bullish support line from 7/16/18.
***What is BTC gonna do next?
I'm thinking BTC will pull up to test 8.7k, fail, retest it again and fail. After we slide out of the RED DOTTED bearish trendline. (If you think of it in terms of E.W. theory, we are doing a ABCDE correction.)
As for the date when we will know this bearish winter will be over. APRIL 16TH, 2018.
2 more weeks to go! Keep in mind that BTC has been in a major bull run for BTC since January 12th of 2017 year.
This analysis is for educational purposes only and not financial advice.
The Unicorn of the Sea
- Narwhal
Trade closed: stop reached
SEE OTHER UPDATE
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.