Is bitcoin painting a Head & Shoulders pattern ?
Updated
Hello everyone,
nothing serious here. Not even a "real" technical analysis but a bunch of speculation, because TA doesn´t work anyways :D
I think that Bitcoin is currently forming a Head & Shoulders pattern on 4h and we can see a further correction.
Very offten a bull trap happens after such formation before the real sell off starts so this chart is just for paper trading / tracking of such situation.
Lets wait and see how this will play out in upcoming days.
Do not hesitate to leave a comment what you think is comming next or what are your thoughts about current H&S pattern formation.
ChaChain
-------------
Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
KEYWORDS
stellar , lumens, xlm , trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond technical analysis
nothing serious here. Not even a "real" technical analysis but a bunch of speculation, because TA doesn´t work anyways :D
I think that Bitcoin is currently forming a Head & Shoulders pattern on 4h and we can see a further correction.
Very offten a bull trap happens after such formation before the real sell off starts so this chart is just for paper trading / tracking of such situation.
Lets wait and see how this will play out in upcoming days.
Do not hesitate to leave a comment what you think is comming next or what are your thoughts about current H&S pattern formation.
ChaChain
-------------
Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
KEYWORDS
stellar , lumens, xlm , trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond technical analysis
Trade active
Trade closed: target reached
Note
So far a healthy 50% retracement. RSI reseted well, weak hands shaken. Note
Lot of shorts have been closed in this trap drop Trade closed: target reached
Note
Lot of shorts closed, moon mission restored Trade closed manually
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.