Bitcoins is forming this descending triangle for 3 months.
From EW perspective Bitcoin is making a ABCDE pattern for this triangle in a big time frame (weekly chart)
Now BTC is forming again a inverted H&S pattern is bullish signal.
But the most important factor to see this pattern playing out is the volume in my personal opinion.
So, I don't see the volume increasing.
BTC is forming in smaller time frame a raising wedge (bearish pattern).
Weekly Stoch is forming big sell signal.
As you can see for now BTC has mixed signals
I will wait for the monthly close candle and the break out.
But I am more bearish than bullish.
Why? Because the lack of volume for this pattern (Inverted H&S) is very low.
But no bias If btc breaks 4165 the next resistance will be 4269 if btc breaks that resistance my targets are :
T1 4270
T2 4420
T3 4600
T4 4900
for downside:
T1 4040
T2 3900
T3 3780
T4 3650
From EW perspective Bitcoin is making a ABCDE pattern for this triangle in a big time frame (weekly chart)
Now BTC is forming again a inverted H&S pattern is bullish signal.
But the most important factor to see this pattern playing out is the volume in my personal opinion.
So, I don't see the volume increasing.
BTC is forming in smaller time frame a raising wedge (bearish pattern).
Weekly Stoch is forming big sell signal.
As you can see for now BTC has mixed signals
I will wait for the monthly close candle and the break out.
But I am more bearish than bullish.
Why? Because the lack of volume for this pattern (Inverted H&S) is very low.
But no bias If btc breaks 4165 the next resistance will be 4269 if btc breaks that resistance my targets are :
T1 4270
T2 4420
T3 4600
T4 4900
for downside:
T1 4040
T2 3900
T3 3780
T4 3650
Trade closed: target reached:
Btc reached all the targets... in my bigger count this is an ABC correction this last pump should be C