BTC: Potential inverse H&S with clear right shoulder!
Hello dear crypto friends, hope you're doing well! ;)
First of all have a look what Murat hat posted in our Slack group:
=> He anticipated the right shoulder yesterday already. In order to do this, you have to be absolutely familiar with patterns, and even then, I told him it's a bad idea for beginners, because the bulls have not completed the pattern yet.
What do the bulls have to do, in order to confirm it? => In this case it's actually rather easy: We have to hold up 10k as right shoulder, which is the perfect support level to bounce off from.
So, as always: Patterns only get confirmed when they break, even then they can fake-out/not see any follow-through. Therefore, not only does the shoulder have to hold, but we have to see a clear break of the tilted neckline around $10,8-11k. in this case.
Do you want to have the knowledge to anticipate charts early? Let me know! ;) If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
First of all have a look what Murat hat posted in our Slack group:
=> He anticipated the right shoulder yesterday already. In order to do this, you have to be absolutely familiar with patterns, and even then, I told him it's a bad idea for beginners, because the bulls have not completed the pattern yet.
What do the bulls have to do, in order to confirm it? => In this case it's actually rather easy: We have to hold up 10k as right shoulder, which is the perfect support level to bounce off from.
So, as always: Patterns only get confirmed when they break, even then they can fake-out/not see any follow-through. Therefore, not only does the shoulder have to hold, but we have to see a clear break of the tilted neckline around $10,8-11k. in this case.
Do you want to have the knowledge to anticipate charts early? Let me know! ;) If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
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