BTC: Triangle, Wedge, H & S, or whatever?

24 mars 2018

Hello Friends, Traders and Interested,

The past days I posted many Ta s accordig to BTC. And the result? BTC is nearly unpredictable. Within a few hours BTC shows price movements against many iIndicators or famous patterns. So, what is to be done? Best thing is not to trade, until we can see a really clear Trend-Formation.

Okay, I am bored so I tried to find a formation now. My predicted big Head and Shoulder pattern ( last TAs ) is still possible. But I will only go short, when BTC clearly crossed the neckline and retested this line, like normal chart behaviour inside a H & S Formation.

Meanwhile I will show this chart pattern. If it would not be BTC, I would say, we have a big Bear-flag. But, as described above, BTC often does not follow famous pattern behaviour. So, feel free to comment this here, I am very interested in your opinions.

OK, this TA - as always - no trading advice, just educational. Trade on your own risk and trade safe.

Yours Sascha....

A like and follow makes me happy.

24 mars 2018

Note

Interesting thing on this pattern is, that the flag lines crossing around 26. 03 (Monday). So this Weekend nothing relevant will happen? Actually we should keep in mind, that we are near a trade war, due to Trumps America first strategy. This defenetly makes all markets extremly nervous. And maybe as well many BTC inverstors are nervous what the worlds economy will expect according to Trumps ( stupid) Ideas.

Yours Sascha

24 mars 2018

Note

Another Thing, if this flag will be bearish, the target would exactly reach the bottom of Februar. So this could produce a double bottom, a strong and healthy reversal sign.

Lets wait and see.

Sascha