Our bearish H&S pattern prediction from Oct 12th is still valid and has room for price going to lower levels.
Reasons for more downside:
- H&S price target is not hit yet and is aligning with a support zone from winter 2020
- we could approach a capitulation phase making it attractive for big investors and institutions to position themselves
- CME futures gap from dec 2020 did not close yet fully (you cannot see it on this chart but on the Bitcoin CME Futures chart instead)
Remember that the most fruitful opportunities present themselves if "we are greedy when others are fearful".
Happy Trading!
Reasons for more downside:
- H&S price target is not hit yet and is aligning with a support zone from winter 2020
- we could approach a capitulation phase making it attractive for big investors and institutions to position themselves
- CME futures gap from dec 2020 did not close yet fully (you cannot see it on this chart but on the Bitcoin CME Futures chart instead)
Remember that the most fruitful opportunities present themselves if "we are greedy when others are fearful".
Happy Trading!
