Exposing Of Fake H&S
A lot of traders have noticed H&S pattern on BTC/USD and starting to open shorts.
I have something to say about this. First of all, always keep in mind that number one person is MM. His goal is to force us to open a position in the opposite direction of his own one, so that he could successfully kill our stops.
Manipulations on the crypto market are organic.
On the chart I noted and described by text those moments that can easily destroy the H&S idea, however there are more important arguments for not going down here.
For example, we recently examined the capitalization of a cryptomarket as a whole one, therefore, based on that post, I cited as an example, in addition to the BTC price on different exchanges, and the capitalization level of the cryptographic market in general, where we clearly see a bullish flag on the daily chart. Market capitalization shows the mood of the market, where more than 50% of the volume is the volume of MM and whales. Consequently, conducting a long-term analysis of a pair of BTC/USD, it is worth paying most attention to the capitalization chart of the whole market.
And the bull flag directly contradicts the drawn bear pattern.
Conclusion: H&S is drawn here in order to trigger us to open as many short as possible. From here BTC price can dump, but it will mean absolutely nothing. Market mood is bullish, means it makes sence to open longs. Sooner or later, longs will give us some profit.
Keep calm and hold BTC long
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I have something to say about this. First of all, always keep in mind that number one person is MM. His goal is to force us to open a position in the opposite direction of his own one, so that he could successfully kill our stops.
Manipulations on the crypto market are organic.
On the chart I noted and described by text those moments that can easily destroy the H&S idea, however there are more important arguments for not going down here.
For example, we recently examined the capitalization of a cryptomarket as a whole one, therefore, based on that post, I cited as an example, in addition to the BTC price on different exchanges, and the capitalization level of the cryptographic market in general, where we clearly see a bullish flag on the daily chart. Market capitalization shows the mood of the market, where more than 50% of the volume is the volume of MM and whales. Consequently, conducting a long-term analysis of a pair of BTC/USD, it is worth paying most attention to the capitalization chart of the whole market.
And the bull flag directly contradicts the drawn bear pattern.
Conclusion: H&S is drawn here in order to trigger us to open as many short as possible. From here BTC price can dump, but it will mean absolutely nothing. Market mood is bullish, means it makes sence to open longs. Sooner or later, longs will give us some profit.
Keep calm and hold BTC long
If you like this idea, do not forget to put Like and subscribe to the profile, so as not to miss the update.
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Public Telegram Channel:
t.me/CryptoKlondike
Join Bybit with us:
goo-gl.su/ibF9Y
Twitter:
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Email:
ekstraruto@gmail.com
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