a possible RSHS for weekly traders
First of all, This is a long term prediction. It may be affected by the price movements in BTC and the probability for it to happen is relatively low. The thing is that knowing the resistance and support levels/areas may help you to trade and predict price movements effectively. Regarding those possibilities, there are some BUY and SELL areas.
In my opinion, The price is forming a Pennant formation whose target is the neck of Reverse Shoulder Head Shoulder formation. If it can't break those area, ( which is also possible SHORT position with at most 3% stop loss), It may fall to the peak of left shoulder. At that point, a new long position can be taken with again at most 3% stop loss.
All positions should be taken regarding the price of BTC and get a confirmation.
Open for any comments, ideas, critics ^^.
In my opinion, The price is forming a Pennant formation whose target is the neck of Reverse Shoulder Head Shoulder formation. If it can't break those area, ( which is also possible SHORT position with at most 3% stop loss), It may fall to the peak of left shoulder. At that point, a new long position can be taken with again at most 3% stop loss.
All positions should be taken regarding the price of BTC and get a confirmation.
Open for any comments, ideas, critics ^^.
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