BTC UPDATE! H&S, 3700 ON THE TABLE. LET'S GO RIGHT SHOULDER?
Hi, guys!
BTC has literally 10 red days in a row, and there was no support on the way down that would make it bounce. Now, we approached the main support line that has been tested three times this year, and as we know, if support was tested 3 times, on forth it fails almost guaranteed. We all were waiting for Inverse H&S, but it doesn't look legit anymore, however, it still not canceled while we over 6k.
Instead, we have left and right shoulder of H&S, and seems like we will drow the right one eventually. From one side, this is a scalping opportunity, but from another, it's can turn into DOOM for holders of BTC and Alts. We are about to have some breather, which will likely turn into the right shoulder. Watch for the volume confirmation. Measured target of this H&S is ~3750 which not just a legit target, but also, perfectly corresponding with a mean line:
s22.postimg.cc/kkbq8fk69/ewrwerw.png
Yes, 3700. There will be several spots that worth a try, as a green triangle that you can see at 5700, but this is the last that I personally going to try before mid 4k.
I called 3500 a long ago, but this is the first time when it's real target as never before.
Etherum has a target at 125, LTC at 48 even without H&S.
Not many alt's will survive, so you have to make a design while BTC is over 5700.
Be careful, and trade smart!
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
BTC has literally 10 red days in a row, and there was no support on the way down that would make it bounce. Now, we approached the main support line that has been tested three times this year, and as we know, if support was tested 3 times, on forth it fails almost guaranteed. We all were waiting for Inverse H&S, but it doesn't look legit anymore, however, it still not canceled while we over 6k.
Instead, we have left and right shoulder of H&S, and seems like we will drow the right one eventually. From one side, this is a scalping opportunity, but from another, it's can turn into DOOM for holders of BTC and Alts. We are about to have some breather, which will likely turn into the right shoulder. Watch for the volume confirmation. Measured target of this H&S is ~3750 which not just a legit target, but also, perfectly corresponding with a mean line:
s22.postimg.cc/kkbq8fk69/ewrwerw.png
Yes, 3700. There will be several spots that worth a try, as a green triangle that you can see at 5700, but this is the last that I personally going to try before mid 4k.
I called 3500 a long ago, but this is the first time when it's real target as never before.
Etherum has a target at 125, LTC at 48 even without H&S.
Not many alt's will survive, so you have to make a design while BTC is over 5700.
Be careful, and trade smart!
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
Comment:
Right shoulder upcoming. It might be way smaller than on the chart
Comment:
BTC trying very hard to draw an inverse H&S with target 6950(might extend to 7150).
Comment:
RED ALERT! THE NECKLINE 6150!!!!
Comment:
Right shoulder fully painted. Now, we or breaking the resistance at 6700 and going to ~7200 or breaking the neckline at 5980 and going to hell. Just watch, be patient.