BTCUSD still not bearish yet

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
At previous analysis, we have failed 3 drives pattern.
But it doesn't mean that bitcoin trend change to bearish .

As you can see, we have a lot of bullish pattern perform and still running.
1. Inverted head and shoulders pattern (purple)
This pattern still valid as long as we have no candle lower than head. Projection for this pattern at 5000
2. ABCD fibonacci pattern (black)
We also have fibonacci support at bigger timeframe at 3673. This pattern projection at 4500
3. Fibonacci pattern for H1 time frame (Blue)
for smaller timeframe, we have fibonacci support level at 3781 with projection at 3990
4. And channel up pattern (red)
This pattern have no projection.

All of this pattern still valid with north direction.

Note :
* For pattern no.3, we still wait for bitcoin to touch fibonacci support at 3781
** Drop "like" to support me, as I always support you with a good analysis.
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We're in a short trade and feel confident we might see a push down with the trendline and resistance zone in the way of a bull run. We also have a buy stop order ready to go at the blue stop loss line for our long trade so we're protected on both sides for a breakout. Thanks for the great TA and listing out the reasons for your analysis and call, that's very helpful. Cheers!
Way too much going on here. You have an uptrend channel that has broken in both directions. An inv hs that doesn’t match volume. What appears as a failed bullish bat scenario. Basically going off of a coin flip, in the middle of the of the trading range, with a biased measured move to the upside
+4 Reply
@calkicker30, It's how you fool newbies. Draw as much as possible on the screen to make it look complicated. Throw in as many "bullish" patterns you can see, even ones that are likely to fail in the macro context.

These types of analyses is what gets the likes and shares since it helps confirm the general bias. This also leads to these "analysts" gaining popularity, perpetuating the problem by giving the same "analysts" a false sense of confidence in their "style". The best part is they even end up believing their own BS.

Game recognize game. And game also recognizes when there is no game.
+1 Reply
HuynhLoc calkicker30
@calkicker30, getaway,
Dropping a Like!
Love your style
+1 Reply
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