BTC Volume overwhelming!! not really...
Previous TA, I predicted that we would complete the right shoulder of the H&S.
You could argue if you play around with the neckline that we've completed the H&S pattern, but the lack of volume on the right shoulder is very disconcerting. In order to break out of the H&S for a very decent gain, the volume has to increase on the right shoulder.
If we break towards the bear side, I'd expect to retest the bottom.
If we have a high volume break towards the bull side, I'd expect to touch 5600s.
Either way I think the next move either to the up or down will be fairly significant moves (+- 5%)
At this point I am winding down some positions and putting stops on both sides of the next move.
Be safe is better than being sorry at this moment.
50/50
Not trading advice, and good luck.
You could argue if you play around with the neckline that we've completed the H&S pattern, but the lack of volume on the right shoulder is very disconcerting. In order to break out of the H&S for a very decent gain, the volume has to increase on the right shoulder.
If we break towards the bear side, I'd expect to retest the bottom.
If we have a high volume break towards the bull side, I'd expect to touch 5600s.
Either way I think the next move either to the up or down will be fairly significant moves (+- 5%)
At this point I am winding down some positions and putting stops on both sides of the next move.
Be safe is better than being sorry at this moment.
50/50
Not trading advice, and good luck.
My opinions only not trading advice.
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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.
My opinions only not trading advice.
Publications connexes
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.