BTC 4H Inverse Head and Shoulders Watch
Bulls are hoping a 4H higher low can form this morning to give the setup for the trend change needed to give us a daily higher low. Those wanting to be aggressive bulls are entering and risking $150 for this potential setup, because if $7,157 breaks we know the setup is incorrect. Even if we would just be looking for a daily lower high, the reward is potentially 3X+ the risk. I personally will be entering a position for this play if I see an entry I like on the hourly chart. Hourly trend change is needed for the 4H higher low, and right shoulder, to be set.
Bears at this point are just patiently waiting for a daily lower high compared to the $7,870 top if not already in a position.
Bears at this point are just patiently waiting for a daily lower high compared to the $7,870 top if not already in a position.
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Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.