Jibs

BTCUSD - Outlook 17/04 - onward

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC             is forming a HS pattern at the moment and I expect to see a relief down from current to our previously formed high (green zone). Price has broken through 2 structure levels (blue) & this should signal a retest of the decision point is coming up soon. (NOTE : I said 'should' not 'will'). The green zone contains the 0.5 fib + standard point to take targets on the HS pattern + has a healthy amount of support so it is a good area to look for longs to the decision point - as long as we get an entry reason like a double bottom or another HS pattern or simple candlestick reversal pattern.

In the interest of longer term outlook, If this scenario does indeed play out, it is possible that a larger HS pattern may form in the coming few months.
Comment: so far so good



had to redraw entire chart as it was lost for some reason, so it may look diff
Do you have updated BTC analysis?
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Nice, thanks.
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Have you seen that MagicPoopCannon guys TA? He said it could possibly drop to $4-5k area.. What are your thoughts on that?
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Jibs mmkhan33
@mmkhan33

I dont read his analysis because half of it is self-praise. He isnt trading that stuff - just a hindsight analyst. Whether or not it goes to 4-5k I dont know... doesnt look likely to me (right now anyway) & ofc this could change depending on what the market gives us
+2 Reply
biplav32 mmkhan33
@mmkhan33, No he reads it all the time. He is obsessed with him. Look at the comment section of every mgc ta he is there always.
+1 Reply
Jibs biplav32
@biplav32,

Thanks for visiting btw, I thought you might not have much time in between being a sheep and checking your masters charts
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@Jibs @biplav32 Well I've seen Mr. Spodermans charts vs MagicPoops charts and Jibs is way more spot on compared to him ;) All Poop does is re-adjust his flags LOL
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Great TA. I agree with your Analysis. MACD 4HR crossed Bearish around 6 hours ago. H&S definitely forming on 4HR.

Started following you :-)
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Jibs mhfcrypto
@mhfcrypto,

Thank you
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