Dear all,
Here is the current view on BTC that I am monitoring.
We really had a fight right now between Bullish and Bearish patterns.
Bulls:
- Inverse Head & Shoulders in formation (Target $7,900 area)
- Possible Diamond bottom
Bears:
- Downward break out of the falling wedge
- Trend line rejection on the Daily at key $6,800 level
- RSI too high to have another significant rally
- Could end up in a future descending triangle along resistance line
On my side I entered long at $6,350 with tight stop loss, and I'm looking at $6,180 and a possible option for the top of the Right Shoulder.
Below that we are likely to retest the $5,800 area or even lower.
All the Best from the Crypto Space
Alteroc
Here is the current view on BTC that I am monitoring.
We really had a fight right now between Bullish and Bearish patterns.
Bulls:
- Inverse Head & Shoulders in formation (Target $7,900 area)
- Possible Diamond bottom
Bears:
- Downward break out of the falling wedge
- Trend line rejection on the Daily at key $6,800 level
- RSI too high to have another significant rally
- Could end up in a future descending triangle along resistance line
On my side I entered long at $6,350 with tight stop loss, and I'm looking at $6,180 and a possible option for the top of the Right Shoulder.
Below that we are likely to retest the $5,800 area or even lower.
All the Best from the Crypto Space
Alteroc
Trade active:
Also watching this formation:
Comment:
Nice bullish div on the 1h TF
Comment:
Comment:
Interesting falling wedge on 1H with support on RSI
Comment:
Following perfectly the expected diamond bottom so far
Comment:
BTC looking good thos past 2 days.
Diamond bottom almost completed, inv H&S taking shape:
Diamond bottom almost completed, inv H&S taking shape:
Comment:
RSI is off the charts on the 4h and now the daily is printing a bearish divergence.
Looking to reenter long at those areas:
Looking to reenter long at those areas:
If we bounce from here I'm still long. If not my short target is $5,800 and $5,400 to begin with.