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PennyBagsCapital
Feb 28, 2021 2:31 PM

Bitcoin 1D H&S Pattern Calls for $20k Short

Bitcoin / United States DollarCoinbase

Description

COINBASE:BTCUSD

Bitcoin is currently printing a beautiful H&S pattern on the 1D chart in combo with starting a ABC correction from our 5 wave run up that just completed dating all the way back to March 2020. The Size of the H&S calls for price to retest prior ATH of 20k (which has happened in every Bitcoin bull market so far) sometime in April/May timeframe. At that point, I do believe that is the last chance to accumulate this asset at such low prices.

I expect the recent Tether FUD to also be a anchor on Bitcoin price in the short term as most saw the settlement with the NY AG as bullish, if you read the document carefully it sounds more bearish than anything.

The coming months are going to be choppy with some quick elevators down, but that also means lifetime buying opportunities.

- PennyBags

Comment

what do you know, a perfect H&S playing out
Comments
PennyBagsCapital
Aggressive trader with a little insider know how my friend
FallingWedge
Never understood how somebody can predict HNS when there is even no Heah formed
PennyBagsCapital
@FallingWedge, how about now?
FallingWedge
@PennyBagsCapital, are you serious? you want to tell me you kept your shorts since feb 28?
PennyBagsCapital
@FallingWedge, whether you believe it or not has no affect on my PnL my friend. Good luck with the cope and dont be so hard headed next time
FallingWedge
@PennyBagsCapital, so you still are saying that your call was on point?
PennyBagsCapital
@FallingWedge, how is it not?
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