Bitcoin / TetherUSShort
Is BTC forming head and shoulder or is it manipulation? 33k?
Updated
BTC is forming currently forming upwards poniting triangle which is Bearish sign. If it follows this triangle it could indicate even rise to the above 40k level before massive drop.
BTC is also forming head and shoulder. Currently the head is on the making and if followed would indicate big drop to around 33k followed by increase to 36k levels after which we could see drop to even around 27k level. But as we know Bitcoin is heavily manipulated and as such these formations aren't rock solid quite opposite. However, I'm still Bearish overall on bitcoin as it's seeing huge resistance on 39k level and volumes aren't enough to break it.
The formation is also starting to look identical with the formation prior the increase from 30k to 40k so this is position is not as solid as I would like it to be. This can go sideways quickly...
Will keep following closely with decent short position in place.
BTC is also forming head and shoulder. Currently the head is on the making and if followed would indicate big drop to around 33k followed by increase to 36k levels after which we could see drop to even around 27k level. But as we know Bitcoin is heavily manipulated and as such these formations aren't rock solid quite opposite. However, I'm still Bearish overall on bitcoin as it's seeing huge resistance on 39k level and volumes aren't enough to break it.
The formation is also starting to look identical with the formation prior the increase from 30k to 40k so this is position is not as solid as I would like it to be. This can go sideways quickly...
Will keep following closely with decent short position in place.
Trade closed: target reached
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