MrEdwardSmith

BITCOIN / US DOLLER - POTENTIAL 22.4K LOWS ?

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Overall view - Expanding channel

Clear head and shoulders pattern forming on the 4H.

1H bullish flag to form a possible bigger second shoulder.

Looking for a retest of the channel & an impulsive breakout to the downside for the 90% retracement to 22.4k then 20k before seeing further long term growth.


PLEASE FEEL FREE TO POST YOUR BTC VIEWS IN THE COMMENTS BELOW.

Comments

I'd add that the bearish divergence in the RSI is not such, because you do have a previous hidden bullish divergence. Correct me if I'm wrong though.
+1 Reply
MrEdwardSmith molbioinfo
@molbioinfo, You are not mistaken, there is hidden divergence there.
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Love the way you think
+1 Reply
MrEdwardSmith AlkalineFX
@AlkalineFX Thank you, have a great day.
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For days now it's been laughable how a lot of traders have been tracking a huge imaginary H&S pattern. Unless you are just one of those unknowledgeable fellows spreading disinformation for lack of something better to do then - Do yourself a favour, Google search H&S, step back and compare with yours. Even if you try and fudge your coordinates, it doesn't even come close to looking like an identifiable H&S pattern.
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