BTC Head & Shoulder // Shorting to 7900s
This is a meme but it does work sometimes.
Bitcoin failed to find acceptance above 0.786 fib level. Seems to be painting a h&s. The measured move would bring us to 7.9 keks which is coincidentally our closest POB and 0.618 fib.
This would be healthy, bullish selling.
You shouldn't enter a position until the right shoulder forms! I have placed a trade since I believe the local top is in and there is a lot of liquidity to be swept up before continuing upwards.
Bitcoin failed to find acceptance above 0.786 fib level. Seems to be painting a h&s. The measured move would bring us to 7.9 keks which is coincidentally our closest POB and 0.618 fib.
This would be healthy, bullish selling.
You shouldn't enter a position until the right shoulder forms! I have placed a trade since I believe the local top is in and there is a lot of liquidity to be swept up before continuing upwards.
Note
Idea invalidated, trade closed. Shorting a sweep of the highs on ETH instead.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.