BTC H&S forming?
BTC Touched support at daily close, but is trying to get back into the channel.
Testing the Resistance but having a hard time breaking this zone, with the volume being low this weekend we might see a breakout under the support zone towards the 0.786(52.5k) Fib zone.
It looks like we are forming a H&S Pattern here, which could confirm my bearish thoughts.
If BTC doesn't prove itself at the end of the weekly close we could be seeing this pattern play out, placing us between the 52.5k and 50k area.
For now this weekend is looking weak, and trading alts on high leverage could prove very risky.
I also wont advise tunnel visioning into shorting the market right now.
If you feel like trading keep the leverage LOW and the Stop-loses tight.
Be careful everyone, And so will we with our signals.
Testing the Resistance but having a hard time breaking this zone, with the volume being low this weekend we might see a breakout under the support zone towards the 0.786(52.5k) Fib zone.
It looks like we are forming a H&S Pattern here, which could confirm my bearish thoughts.
If BTC doesn't prove itself at the end of the weekly close we could be seeing this pattern play out, placing us between the 52.5k and 50k area.
For now this weekend is looking weak, and trading alts on high leverage could prove very risky.
I also wont advise tunnel visioning into shorting the market right now.
If you feel like trading keep the leverage LOW and the Stop-loses tight.
Be careful everyone, And so will we with our signals.
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