BTCUSD CRACKing Everywhere!

As I have been warning for a while now. See previous post.

I first warned to wait for the CRACK!
Then we got the 2nd CRACK!, very normal.
Then a nice M pattern with a lower high.
Then another CRACK!
And now a right Shoulder.

MAGIC!

Now we wait for the H&S to break down.

Click boost, follow, and subscribe for more. Let's get to 5,000 followers. ))

Trade active

Head Test!

This kind of Head Test price action has been a very common theme recently. Why?
1. You need to see a lot of H&S everywhere, which is rare to begin with unless the markets are topping
2. Just because many stocks are preparing to head south (hence H&S everywhere), they won't break unless the entire market cracks and goes risk off!

As such, while these patterns await for the market to break, they create bull traps, break, test, go & Head Tests, squeezing and taking out stops, and then reversing. This is all normal behavior as the charts wait for the total market to head south.

if you look at the total market (as I do), you will see it clearly. If you are myopic and look at individual charts you will just react to it and get burned eventually.

3 days ago

Trade closed: target reached

SIGH! Target not reached again. Not even close. But it is forced on me by TradingView. It's an awful system for me as a macro trader.

Anyway! As I have been warning for a while now a big ars Head and Shoulders pattern with a head test (which is normal to occur.) It has since broken down, and not looking good for BTC bulls.

I will have to once again repost this chart.

RealMacro

Real Macro Economic Investing
patreon.com/Realmacro

Also on:

Related publications

BTCUSD Wait for the CRACK!

by RealMacro

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.