OptimoomFX

Bitcoin- The H&S will not pay off ( Just my opinion:) )

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The more I look at Bitcoin's price action, the more bearish I become.
If I've learnt something trading for 20y is that things like "look, here is support, I will stay here all week for all to see, buy and MAKE MONEY" are in 99% of the cases traps.
Besides, I saw a lot of analyzes arguing an H&S , for us to speak of an H&S the price needs first to pass 60k.
Technically speaking we are in a range and the pressure is on the downside and, as I've mentioned before, a break under support is bearish .
Also, if we have this break, I don't think BTC will stop its descent at 53, again, it will be too obvious and considering that such a break would confirm a more than 2 weeks distribution, the drop should be aggressive.
I will stay with my short trades for the time being and only BtcUsd above 60k would make me rethink.

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