Hi all,
Im thinking next BTC buy position is within the green box here.
We have :
Trendline
Convergence of 50,100,200 EMAs
Very good support from the previously successful head and shoulders - see along green zone, point has acted as fantastic support and resistance zone many times recently.
While It would be hard to collect the exact entry point, I will give you where I think is most likely we will see a turn around before visiting the 9.5k area (potentially) which is marked by the large red zone up above I believe we will see a retrace off this point in order to complete an even larger head and shoulders pattern in the future (will post this in comment updates ). Stops go below initial shoulder support and below the 2 differently drawn trendline (light one represents points where most bounces occurred, dark one represent how most draw it which is to connect the lowest points) I will update with a new idea when/if we reach this point.
All in all, bullish on BTC for the time being as we have seen crosses bullish between the 3 EMAs that I use.
Im thinking next BTC buy position is within the green box here.
We have :
Trendline
Convergence of 50,100,200 EMAs
Very good support from the previously successful head and shoulders - see along green zone, point has acted as fantastic support and resistance zone many times recently.
While It would be hard to collect the exact entry point, I will give you where I think is most likely we will see a turn around before visiting the 9.5k area (potentially) which is marked by the large red zone up above I believe we will see a retrace off this point in order to complete an even larger head and shoulders pattern in the future (will post this in comment updates ). Stops go below initial shoulder support and below the 2 differently drawn trendline (light one represents points where most bounces occurred, dark one represent how most draw it which is to connect the lowest points) I will update with a new idea when/if we reach this point.
All in all, bullish on BTC for the time being as we have seen crosses bullish between the 3 EMAs that I use.
Comment:
larger HS I am talking about that may potentiall form
