I know many people not gonna like this. But I cant resist to post this idea.
No matter what you say the head and shoulder is bright as sun. If this got validated GOD!!
The demand zones are marked by monthly and weekly.
The strongest demand zone is at 9k-10k. If it fails I dont think weekly zone gonna hold.
It will fall to next Monthly Zone.
I dont know fundamental and by design I am only telling what chart is saying.
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Everyone know BTC is inversely proportional to DXY here is an old idea of mine posted in Jan and DXY is holding the support and making a big elephant candles. Those who knows elephant candles they know 3 more big bullish candles are coming next.
I also used ICT analysis to show there is a FVG above and the DXY made an Inducement both works as magnet to pull the instrument back into zone.
Which means 118-121 on DXY is programmed.
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Point of death
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Here is the full picture I see on my chart. I showed you 3 bull cycle and right now price is under that line making it a resistance until and unless it climb back to the line and convert it to support we are in a bear market.
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Here are the pivot points for BTCUSD on weekly. I am waiting as we are approaching red circle
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And we are coming down
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Dump ring approaching let see the reaction and decide are we going to dump or pump
@BlackBirdTrading think? a proper head and shoulders has the right shoulder lower than the left, son.
BlackBirdTrading
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@handyrams8, why dont we wait and see. As I clearly said its building near support line I never claim its done
OnChainArt
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this is not how head and shoulders works...
BlackBirdTrading
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@dbg8086, will see bro it works or not.
OnChainArt
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@BlackBirdTrading to make it clear I am criticizing the H&S pattern, not the idea of shorting. I also believe in market downturn as I've also seen things on the higher timeframes and S&R.
The H&S pattern though ain't it.
BlackBirdTrading
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@dbg8086, I am not offended with anything and I am sure you have something better to share with us. But this is how I see it and I am not imposing it on anyone
NitroBotTrader
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I dot think we ever see below 10k with how many countries use it as a curency. If that happened id sell everything an buy all I could lol (a lot of people would).
BlackBirdTrading
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@uknowjpbitcoin, I agree with you but as a trader plan B is more important than plan A :). But yeah 9k is coming for sure