Please support my idea with likes, it is really important to me =).
Bitcoin chart is trading on a falling wedge and now is showing an inverse head and shoulders pattern. The projection of the head and shoulders go to the resistance around 9450 USD. We can open long to that point.
amazon is doing this exact thing right now.. hoping it goes up.. practicing my options :D
vapecaster
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On a hourly chart I see h&s but not inverse :)
Guapeva
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@vapecaster, I saw this as well, but may be an ascending triangle. My target is only to 9450 USD.
vapecaster
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@Guapeva, yes, indeed it is a ascending triangle of which we are breaking down i think. The very end of the ascending triangle is the right shoulder (left shoulder was on the 28th 17:00hrs) on the hourly chart, so it makes sense that we are going down especially when the price was rejected 3 times at 9200 level
Guapeva
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@vapecaster, I understand your analysis, but for me it is an ascending triangle with bull trap
vapecaster
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@Guapeva, yep, with triangles you never know they can pop to any direction :) best of luck!