Bitcoin Conflicting Signals on 3-Hour and Daily Charts

The BTC/USD 3-hour chart suggests a potential inverted head and shoulders pattern, indicating a possible bullish reversal.
Conversely, the daily chart hints at a head and shoulders pattern, suggesting a potential bearish trend. This contradiction creates uncertainty.

The presence of both an inverted head and shoulders (bullish) on the 3-hour chart and a head and shoulders (bearish) on the daily chart creates ambiguity. This is a classic example of a confluence issue in technical analysis.

The inverted head and shoulders could be a fakeout, a deceptive pattern that lures investors into buying before reversing course.
The market might be consolidating before a more definitive breakout in either direction.

Trade active:

Comment:

As long as btc can hold the 200 ema it looks probable.

Trade active:

Comment:

Comment:

Not a bad R:R. 69k is strong resistance but if anything can break it bitcoin can.

Comment:

Comment:

Lots of resistance on the way. I’m better off with no stops these days.

Comment:

Comment:

Comment:

Nice set up overall.

Comment:

Comment:

Pennant formed within the larger trend.

Trade active

Comment:

Comment:

Here is the original set up.

Comment:

Comment:

Classic fake out to shake out the over leveraged traders

Trade active:

Comment:

How many people shorted this? Raise your hand.

Comment:

Comment:

Sideways for now.

Trade active:

Comment:

Let’s see how this small pennant reacts to a break out.

Comment:

Trade active:

Still on track for new ATH. Never in a straight line.

Comment:

Trade active

Comment:

Comment:

Never lose sight never use too much leverage

Comment: