Hello dear friends,
If Bitcoin can break through the neckline of the Head shoulder formation upwards we have a bullish signal. With a breakout from the wedge the old top 68k comes back into view as a target.
If Bitcoin bounces off the neckline or the bottom of the wedge, we see the bottom line 40k as the target. This is the target of the main shoulder formation.
If the wedge breakout to the upside BTC can go to the old top with lightspeed.
Because of lack of time I will not be so active anymore but I hope you have learned something from my postings in the past!
Good luck and profit from your trading!
Disclaimer This is my view, no advice to buy or sell. Also always do your own research!
--->> Dear friends please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
If Bitcoin can break through the neckline of the Head shoulder formation upwards we have a bullish signal. With a breakout from the wedge the old top 68k comes back into view as a target.
If Bitcoin bounces off the neckline or the bottom of the wedge, we see the bottom line 40k as the target. This is the target of the main shoulder formation.
If the wedge breakout to the upside BTC can go to the old top with lightspeed.
Because of lack of time I will not be so active anymore but I hope you have learned something from my postings in the past!
Good luck and profit from your trading!
Disclaimer This is my view, no advice to buy or sell. Also always do your own research!
--->> Dear friends please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
Comment:
Price 47800, If price drops below 47200 expect a drop of around 10% to 43000 USD
Comment:
As I wrote on Dec 10. If price drops under 47200 We see a move to 43000. BTC did not go that low and so it will now probably test the neckline at 51300.
If that trendline break to the upside we have a last one which is from the head to the right shoulder. A move above that level and we are going to test the ATH.
if BTC can't cross the above trendlines it will go as shown in the chart probably to the 40k level.
Succes dear friends!
If that trendline break to the upside we have a last one which is from the head to the right shoulder. A move above that level and we are going to test the ATH.
if BTC can't cross the above trendlines it will go as shown in the chart probably to the 40k level.
Succes dear friends!
Comment:
BTC did not break the trendline and we see now already a drop to 46k.
Interesting is that a new H&S Pattern has formed.
Target as in the chart. Friends, prices never go in a straight line down or up but with ups and downs. The difference with a declining trend is just that the down-moves are bigger then the up-moves and vice versa for a rising trend.
You can always use the HH HL LH LL method on the timeframe you desire to see the direction and places where to buy and place your stops. Simple but effective!
Wish you all good luck and good profits!
Interesting is that a new H&S Pattern has formed.
Target as in the chart. Friends, prices never go in a straight line down or up but with ups and downs. The difference with a declining trend is just that the down-moves are bigger then the up-moves and vice versa for a rising trend.
You can always use the HH HL LH LL method on the timeframe you desire to see the direction and places where to buy and place your stops. Simple but effective!
Wish you all good luck and good profits!
Comment:
Dear friends,
I currently see a couple of nasty developments that could put an end to the 2021 bull of stocks and crypto.
1. The conflict with Russia Ukraine. Very dangerous! The troops on the Russian side have expanded from 100,000 to right now 170,000 and rising!
2. Omicron which causes inflammation in the lungs 70X faster than the Delta variant. Omicron is also 4 times more contagious than Delta and 8 times more than the original Covid-19.
3 Hyperinflation. Energy prices continue to rise and are going to get much higher which could become another oil/gas crisis of sorts as we have seen more in the past.
4. Tapering of the unlimited money printing because inflation is too way high and rising. Result, interest rates rise and this is always bad for stocks. All the cheap borrowed money from the central banks has to go back and that can cause a crash below certain levels.
5. Prices have risen too quickly in recent years for stocks. Normally stocks rise 10% per year. Now on average 30%. IT just can't keep going up when the real value of stocks is not following. Take a Look at the economy. The unlimited printing of money. The energy crisis, The Russia / Ukraine conflict. China, hyperinflation and ..... the stocks are at All time high! This could only happen because of the trillions of dollars and Euro's which where invested in the stock, crypto and other markets.
Keep this in mind dear friends. You can trade perfectly but use tight stops and be prepared for a huge sell off rather sooner than later.
I currently see a couple of nasty developments that could put an end to the 2021 bull of stocks and crypto.
1. The conflict with Russia Ukraine. Very dangerous! The troops on the Russian side have expanded from 100,000 to right now 170,000 and rising!
2. Omicron which causes inflammation in the lungs 70X faster than the Delta variant. Omicron is also 4 times more contagious than Delta and 8 times more than the original Covid-19.
3 Hyperinflation. Energy prices continue to rise and are going to get much higher which could become another oil/gas crisis of sorts as we have seen more in the past.
4. Tapering of the unlimited money printing because inflation is too way high and rising. Result, interest rates rise and this is always bad for stocks. All the cheap borrowed money from the central banks has to go back and that can cause a crash below certain levels.
5. Prices have risen too quickly in recent years for stocks. Normally stocks rise 10% per year. Now on average 30%. IT just can't keep going up when the real value of stocks is not following. Take a Look at the economy. The unlimited printing of money. The energy crisis, The Russia / Ukraine conflict. China, hyperinflation and ..... the stocks are at All time high! This could only happen because of the trillions of dollars and Euro's which where invested in the stock, crypto and other markets.
Keep this in mind dear friends. You can trade perfectly but use tight stops and be prepared for a huge sell off rather sooner than later.
Direction according the arrows on the chart.