Hello traders,
by the look on the 4h chart, it seems very likely, we are making inverse Head & Shoulders pattern, which is maybe one of the only patterns bitcoin really follows most of the times. If thats going to work out, we should make another shoulder down to around 8750/8900 area and when price go back up to 9150/9250 and brake the neck area, we should get to at least 9700/9800. Depending on how strong this move gets at that point, if bulls are strong enough, they may try to test the 10k area again. Lets see.
Can it be, what bulls need now? Or bears will take over and take us lower? Let me know, what you think, in comments. Thank you.
This is not a trading advice!
by the look on the 4h chart, it seems very likely, we are making inverse Head & Shoulders pattern, which is maybe one of the only patterns bitcoin really follows most of the times. If thats going to work out, we should make another shoulder down to around 8750/8900 area and when price go back up to 9150/9250 and brake the neck area, we should get to at least 9700/9800. Depending on how strong this move gets at that point, if bulls are strong enough, they may try to test the 10k area again. Lets see.
Can it be, what bulls need now? Or bears will take over and take us lower? Let me know, what you think, in comments. Thank you.
This is not a trading advice!
Comment:
Idea didn't really work out as H&S as bulls get over right after we touched 9300. Now the only question is, if we going to have another try to 10k, or bulls lost too much power pushing through 9200/300 area