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gr8fultrading
Sep 12, 2022 5:52 PM

Head & Shoulders on BTC Short

Bitcoin / U.S. dollarBitstamp

Description

Bitcoin is trading indecisively (as are broader markets) and is forming a head & shoulders pattern right at the lower bear flag border. Neckline and target are shown here in purple.

Trade closed: target reached

and still falling
Comments
harriemarkt2020
1 more spike to 226xx at least bro. the volume is 2 high
gr8fultrading
@harriemarkt2020, possibly. Anything above 22.5k would invalidate the H&S
DemoDiaryFX_Trading
great idea, just that fake out
gr8fultrading
@DemoDiaryFX_Trading I try to remember that patterns are not magic nor dogma; even if one is invalidated, the conditions it expresses should still be taken into account.
DemoDiaryFX_Trading
@gr8fultrading, yes indeed nicely said
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