Hey everyone, in my last post I called a H&S pattern near the top of the head (where I closed my position at $183) after seeing the right shoulder confirmation I measured the distance from the peak of the head to the neckline and used that measurement at the break of the neckline to find a position to buy ($140) I ended up buying at $140.75.
On a longer-term perspective looking at the daily chart a cup & handle formation looks to be coming to an end, as if this break from the H&S above pushed price down to form the end of the handle, and we are oversold on the hourly. I am looking for a +15-20% trade from this bounce. Good luck to everyone, and if you have another opinion or something to add please leave a comment. Thanks!
@shretal, I was only (lol) looking for a 20% gain and sold there at around $169 for a nice $28 profit per coin. I am now looking for an entry point on the inverse H&S forming on BTCUSD. Although, if BTC has a bull breakout I would believe that the Alts would rally alongside of it.