Morning folks,
So, everything goes accurately with the plan - our 1H H&S is ready to start. Even small "222" Buy already has been formed on the bottom.
So, if you would like to buy - this is the point where you have to decide. Upside target is 100.5-101.2K.
At the same time - don't forget that the H&S has to be considered in context of our big bearish weekly DRPO Sell pattern.
If H&S will be completed at 101K - we consider it as a chance to get the short position at better price. Conversely, if BTC starts dropping and H&S start failing. It could mean that downside action starts immediately.
Other words speaking, if BTC will show upside action at all - it has to start it right now. Otherwise, be prepared for collapse.
I mark this setup as a bullish, because of H&S. But in general we have mid term bearish view.
H&S is just a retracement step before downside action.
So, everything goes accurately with the plan - our 1H H&S is ready to start. Even small "222" Buy already has been formed on the bottom.
So, if you would like to buy - this is the point where you have to decide. Upside target is 100.5-101.2K.
At the same time - don't forget that the H&S has to be considered in context of our big bearish weekly DRPO Sell pattern.
If H&S will be completed at 101K - we consider it as a chance to get the short position at better price. Conversely, if BTC starts dropping and H&S start failing. It could mean that downside action starts immediately.
Other words speaking, if BTC will show upside action at all - it has to start it right now. Otherwise, be prepared for collapse.
I mark this setup as a bullish, because of H&S. But in general we have mid term bearish view.
H&S is just a retracement step before downside action.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.