Bitcoin update
maybe we are going to the upper of the channel and I support this scenario.
and Bitcoin is forming an Inverse Head and Shoulders!
How to Trade any Pattern?
- It is very important that traders wait for the pattern to complete. One should not assume that a pattern will develop or that a partially developed pattern will become complete in the future. Partial or nearly completed patterns
should be watched, but no trades should be made until the pattern breaks the neckline. In the head and shoulders pattern, we are waiting for price action to move lower than the neckline after the peak of the right shoulder. For
the inverse head and shoulders, we wait for price movement above the neckline after the right shoulder is formed.
- targets are very predictable for H&S pattern and the formation has an overall success rate greater than 70%.
Note:
this movement will not change my main chart and 2k level is still predicted BTC just will test the upper or the channel in the main chart.
maybe we are going to the upper of the channel and I support this scenario.
and Bitcoin is forming an Inverse Head and Shoulders!
How to Trade any Pattern?
- It is very important that traders wait for the pattern to complete. One should not assume that a pattern will develop or that a partially developed pattern will become complete in the future. Partial or nearly completed patterns
should be watched, but no trades should be made until the pattern breaks the neckline. In the head and shoulders pattern, we are waiting for price action to move lower than the neckline after the peak of the right shoulder. For
the inverse head and shoulders, we wait for price movement above the neckline after the right shoulder is formed.
- targets are very predictable for H&S pattern and the formation has an overall success rate greater than 70%.
Note:
this movement will not change my main chart and 2k level is still predicted BTC just will test the upper or the channel in the main chart.
Trade closed: target reached