Edgy_

BTC: H&S negated, inside EQ, break coming!

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTC had definitely negated the H&S potential that we had talked about yesterday, and is now inside the wider EQ range of $9,400 and $8,900. => This will see a definitive break to either direction, and will give a perfect trading opportunity. To the upside we have around 8% potential up to $10k psychological previous resistance. To the downside we have the previous breakout zone around $8k, which would give 10% profit.

The probability is currently leaning more towards bullish: We're at the top side of the resistance, and have a potential 4H Morning Star in the building, if we close the candle like this.

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Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.

Comments

It's coming to an end, now we have H1 and H4 bear divergence so I'm looking for the short W1 C down. BTCUSD H4 Running Flat In Wave X.
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Edgy_ Boon2
@Boon2, Thx for your post. I don't take EW seriously, because so far I couldn't find 2 guys agreeing on it yet, but feel free to use it if it helps ypu. Also divergence itself is not a strategy, as long as there is no corresponding price action going on. => on the potential H&S yesterday we had that. Now the bulls have broken above: we have to see if they can see any follow-through. A fake-out here would be a major red flag.
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