Long
Long Term Bull: Big Head and Shoulder
Right now we are in the middle of a big H&S. I believe there will be a good opportunity to short this week with a PBoC announcement around the corner, probably compulsory KYC regulations for Chinese exchanges.
After that, close mid 800's and buy in long for the moon.
After that, close mid 800's and buy in long for the moon.
Note
The "µ" shaped fractal will form and then after that we go down, as illustrated. PBoC announcement still pending.Note
Slid the drawing over slightly because timing was off, but it did play out. Top support on the original chart on this page hit exactly earlier today.Note
RIP anyone who was still long on Bitcoin. If you followed the advice for the head and shoulder you would have pulled out at the upper resistance point I had marked with a yellow dotted line.
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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.