Intraday bearish setup is ready
Morning everybody,
So, upside AB-CD bounce is done accurately. Now, as we said - those who would like to sell and try to make a bet on daily H&S failure has got nice setup. It calls as DiNapoli B&B "Sell" pattern.
Upside AB-CD target is completed accurately at K-resistance area. Also you could recognize here minor upside butterfly, that also is done. Minimum downside target will be around 60-60.4K, which is 3K/coin which seems not bad for intraday setup.
Besides, if bears will be right and H&S indeed will fail - trade has great potential down to 50K.
Bulls who are still thinking about long entry should wait when B&B will be over. Supposedly it is possible to watch the same 60-60.4K area but avoid entry if we get strong downside impulse. For the bulls invalidation point is the same - bottom of the right arm on daily chart.
So, upside AB-CD bounce is done accurately. Now, as we said - those who would like to sell and try to make a bet on daily H&S failure has got nice setup. It calls as DiNapoli B&B "Sell" pattern.
Upside AB-CD target is completed accurately at K-resistance area. Also you could recognize here minor upside butterfly, that also is done. Minimum downside target will be around 60-60.4K, which is 3K/coin which seems not bad for intraday setup.
Besides, if bears will be right and H&S indeed will fail - trade has great potential down to 50K.
Bulls who are still thinking about long entry should wait when B&B will be over. Supposedly it is possible to watch the same 60-60.4K area but avoid entry if we get strong downside impulse. For the bulls invalidation point is the same - bottom of the right arm on daily chart.
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/
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.