Just to see if the neckline will be broken.
If neckline holds and price goes up beyond the right shoulder, go long.
If neckline breaks, go short.
In my case, I am "hedging" my BTC position to keep my dollar value unchanged.
If neckline holds and price goes up beyond the right shoulder, go long.
If neckline breaks, go short.
In my case, I am "hedging" my BTC position to keep my dollar value unchanged.
Trade active:
BTC broke the neckline and found support around the second uptrend line.
But according to the H&S projection, the price may drop further around 6100 area.
Unless the price goes above 7000 again, I will keep my short position active.
But according to the H&S projection, the price may drop further around 6100 area.
Unless the price goes above 7000 again, I will keep my short position active.
Trade closed: target reached:
Target reached, hedge position closed.