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Bitcoin | Head and Shoulders Well, well, well, look who's got their head in the game and their shoulders above the rest! You've spotted the head and shoulders pattern on the chart, and now you're ready to shoulder your way to success! After closely analyzing a chart, you noticed a distinct pattern that caught your attention: the head and shoulders pattern. This technical analysis pattern is characterized by a peak (the "head") that is flanked by two smaller peaks on either side (the "shoulders"), creating a visual shape that resembles a human head and shoulders. The pattern is often seen as a sign of a trend reversal, and can be used by traders to make informed decisions about buying and selling. By identifying this pattern on the chart, you have gained valuable insight into the market and can use it to inform your investment strategy. While technical analysis patterns can be a useful tool for traders, there are also risks involved. Here are some potential risks of trading patterns: False signals: Technical patterns can sometimes generate false signals, which can lead to incorrect trading decisions. For example, a pattern may appear to be forming but then fails to materialize, or a pattern may appear to indicate a certain trend but then reverses unexpectedly. Over-reliance on patterns: Relying too heavily on technical patterns can lead traders to overlook other important market factors, such as economic indicators, company news, and geopolitical events. It's important to consider a variety of factors when making trading decisions. Limited information: Patterns are based solely on historical price and volume data, which may not provide a complete picture of the market. Traders may miss out on important contextual information that could impact their trades. Market volatility: Markets can be volatile, and patterns may not always hold up in such conditions. Traders need to be prepared for sudden shifts in the market that could disrupt their trades. Emotional biases: Trading patterns can sometimes trigger emotional responses in traders, such as greed or fear, which can lead to poor decision-making. It's important to stay objective and rational when analyzing patterns and making trades. Overall, while trading patterns can be a useful tool for traders, it's important to approach them with a critical eye and to consider a variety of factors when making trading decisions.
Short
by xuk1
BTC | AIM 32K! So, imagine you're a sniper, carefully eyeing your target through your scope. Suddenly, you notice something strange - the movements of your target seem to be following a pattern! You take a closer look and realize it's the Fibonacci sequence! As any savvy sniper knows, Fibonacci retracements can be a handy tool in trading. So you whip out your Fibonacci tool (which, for the record, looks a lot like a ruler with some fancy numbers on it), and start drawing your lines. You carefully calculate your entry and exit points, making sure to account for all the Fibonacci levels. And then, just as you're about to pull the trigger (on your trade, of course), your target moves - just like the sequence predicted! You adjust your aim slightly, recalculating your Fibonacci levels on the fly. And then, with a steady hand and a calm mind, you take the shot. The market reacts with a satisfying ka-ching, and you walk away with a tidy profit. As you pack up your gear and head off into the sunset, you can't help but think: "Sniping is all about precision and timing - just like trading with Fibonacci retracements!
Long
by xuk1
5
Bitcoin | Next 24-48 hours will be wild Volume dropped a lot. This gave me a signal of sudden movement. The higher low set up we created seemed strong to me. I believe we can push 32k before we going back to the 29k range. I think this set-up will happen in the next 24 hours. The earlier breakout took place around this time on Sunday. You can see the same setup on the volume side. In addition, while the cumulative volume appears consistent at 4 hours, it gives bearish signals at 1 day. This tells me that we can move up and then down within 1-2 days.
Long
by xuk1
BTCUSD - SHORT POSITION - 45 % profit NEW)Dear traders! In January we published trading idea where we explained that Bitcoin has a chance to pump towards 28k-30k which is yearly resistance: As the price is doing exactly what we expected, dips are still for buying, we believe that Bitcoin will retest this yearly resistance soon. Now it's time to plan the SHORT position. On the chart you can see 2 probable paths for the price. 30k $ is the area where we should see a lot of selling pressure and we believe that it will be a great entry for a swing short position! Final target for this short position would be the retest of the previous bottom. In this case we would get a higher low or double bottom which would be bullish for a continuation of the bull market which we believe that has already started! What do you think? Do you agree with us? Leave your comment please :) Good luck!
BITSTAMP:BTCUSDShort
by vf_investment
7
What do you think could happen next?I've been trading BTC since then thru futures and spot trading, it was like they're almost the same price action but it isn't. For now here's my price prediction which has a lot of possible scenarios for BTC. Just wait for the next clue before you entry, like now i have seen a bearish divergence on 1hr TF. Now i have a short position at BTC and other coins but first i calculated the risk and i didn't put SL in some other coins, but still it's up to you. #TAYOR Hope this enlighten some of you and have some vision on what's coming next. Please let me know your thoughts about this. Thank you!
Short
by DSkyHellsing
Next week will focus on the layout, keep upThe previous discussion on the trend of Bitcoin has been largely validated, and it is currently oscillating within the second interval. At this point, it is important to exercise patience as there is limited downside space at the bottom. However, even with a good grasp of the trend, profitability is not guaranteed without sufficient patience and good operations. Therefore, each aspect of trend, mentality, and operation is crucial. This is just a rough direction for now, and individuals can refer to the chart for a better understanding. If there are any areas of confusion, please leave a message or click the follow button for updates. Next week, we will focus on laying out a position in Bitcoin, but as the market is constantly changing, it is important to keep up with the pace.
CME:BTC1!Long
by StarVenus-
BTC Update ✔Hello Traders. Hope you are doing well. Last time BTC formed a QM pattern which is a reversal pattern that I published in my analyses. Now it has formed a triangle as well as you can see on the chart. On the daily you can see a huge divergence on RSI too which suggests that BTC is going into the correction. The trigger that shows us that BTC is certainly going to go down is if price breaks the triangle to the downwards. What do you think guys? Comment your thoughts on what is going to happen. ❤
by Existansilon