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BTCUSDT A Head & Shoulders to built

By firmestudio
Updated
BTCUSDT have a Head & Shoulders pattern to built in a Zig Zag downward, in which a wave 1 can be expected for an 2-D swing trade as a breakdown from the micro symmetrical triangle is expected. Thereby, a new supply target will expecting for a reaction. This will be an increase of confidence for the sell-side. Displayed on this H4 chart: daily LSMA (least squares moving average) resistance plus AVWAP (anchored volume weighted average) from peak of wave (ii) of this ending diagonal (as showed on my actual cyclical wave analysis). Technicals: serious divergences on Commodity Channel Index and Chaikin Money Flow suggesting a condition to a dip soon. Overbought condition.
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snapshot
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snapshot
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BTCUSDT 5th wave downward of an ending diagonal
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BTCUSD Ready to exit this big diamond
bearishreversalccidivergenceElliott WavefishertrasnformHead and ShouldersheadandshouldersformationLeast Squares Moving Average (LSMA)shortsetupSupply and Demandswingtradingwaveanalysisswaveprinciple
firmestudio
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