BTC is forming nice H&S on 4H chart. Length of the head to neck line project from the neck down coincidences with 200 daily moving average on major support line. Could be very nice short set-up.
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Looks like right shoulder has been fully formed now. The earlier entry was a bit speculative but the pattern is confirmed now . Going down to 42k at least
I see an INVERSE head and shoulders (left shoulder @54,000 , head @ 49,000, and right shoulder @53,000). Weak analysis in my opinion, especially since the right shoulder hasn't even formed yet
OxbadOded
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@cryptoguru292, I think you had far too many IV H&S. Your mind will make you believe you see it because your emotions are involved. Blind Freddy could see this is a giant H&S forming on the daily and doesn't look good.
karusmeister
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@cryptoguru292, yeah, right one hasn't formed hence this is a bit on a more risky side (hence the stop loss right above left shoulder). You could wait till the right shoulder forms to be on a safe side, or accept higher risk for potentially 2 times the reward
Traderninareru
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good analysis
amaloyz
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agree looks really weak, couldnt break over the weekends, looks like back to 55$ again