enTHUZed

Bitcoin - Chart illusionary ~ Are you a bull or bear?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
The entire cryptoverse is focused on the bullish 1h inverse head & shoulder pattern with a measured move target of $7620 at a time when longs are over leveraged at 83% vs to shorts at 17%. The key bull break pivot is $7400. I consider this a dynamic candle stick pattern with a 2h candle close “hidden” descending triangle (that no one is talking about) with a conservative measured move bear target at 7K psychological. This descending triangle is wicked off at $7250 with the relevant 30m 200 EMA acting as the descending trend line . A measured move bear break would put price 3% below support, breaking the pivot low, potentially flushing the bulls down the long squeeze toilet. These are the situations where a technical analyst’s resolve and confidence are truly tested. A spot where an opinion could cloud ones vision of the chart. I have made my position and trade game plan clear. What is your trade game plan?

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Comments

Deff Bear Market...
Even if we have a bullrun, it will last till January only...
Then Taxes are due...
Good Job on the graph
+1 Reply
the pattern that will play out, is the pattern that will fool the most people.
Reply
enTHUZed nagihatoum
@nagihatoum, agreed. Which pattern is that to you?
Reply
@enTHUZed, both, https://discordapp.com/channels/504841175212097546/646184799341641729

It should break down but there is a buy wall on binance at 7292 of 100btc and more sprinkled around that price.
Reply
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