Head and Shoulders to $19K Short

Bitcoin / U.S. dollarBitstamp

Description

⋅ Aug 25, 2023 7:53 AM

Hi everyone,

Thank you for considering reading my idea.

After a failed breakout at 20 month moving average (green line), it's more likely that we will continue the down trend.

Target of H&S pattern is at 19.7K. It is also near 0.786 level of fibonacci retracement.

Thank you for reading my idea. Like this idea and follow me for more ideas like this. NFA. TAYOR. DYOR.

Cheers,
Juvar

Comments

Tradersweekly

⋅ Aug 25, 2023 9:25 AM

The right shoulder should not be above the head. It is a basic requirement for the pattern to be classified as head and shoulders. What you are showing is not head and shoulders. Though, I agree on being bearish.

SwallowPremium

⋅ Aug 25, 2023 2:23 PM

Great work now to trade! Thank you!

xxxxxxx-xxxxxxx

⋅ Aug 25, 2023 11:05 AM

I am bullish because we are massivly oversold atm

Juvssss

⋅ Aug 25, 2023 11:08 AM

@mageve09 i respect that 😄

Juvssss

⋅ Aug 25, 2023 9:42 AM

Interesting. thanks for that