Get started
AfterlifeTrading

Double Trouble for Bitcoin - H&S + Bear Flag Formations

Short
Bitcoin (BITSTAMP:BTCUSD)  
AfterlifeTrading  
BITSTAMP:BTCUSD   Bitcoin
Chart Patterns bearflags BTCUSD Cryptocurrency
16
3
chartpattern bearflags btcusd cryptocurrency
Not the cleanest H&S but it covers the criteria. In parallel, the recent dump also created a bear flag formation.

  • Measured move to previous support level around 6200.
  • Full measured move of the head to neckline would bring us down to 5921
  • Measured move for Bear Flag would bring us to 6025

Furthermore, I recently published an idea that showed similarities with the Dump, starting with a TD9 on Feb 12th. With the recent PA, it resemble closer the hours following the 5.5k dump.
NQ Trader
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.