People seem to love H&S patterns, but from what I've seen in crypto they rarely play out. I don't expect it to happen, but if the price breaks the neckline I will be watching for buy opportunities (usually after I see a good wick in the 1 or 4 hour candle).
Trade active:
Tight stop at 35360, set leverage at what you're willing to risk.
Trade closed: stop reached:
Lesson learned: the reason why so many H&S patterns were not playing out in the last few weeks/months was probably that we were in a bull market, and BTC wanted to go up no matter what.
Now that the market is scared, bearish patterns are much more likely to actually play out.
Now that the market is scared, bearish patterns are much more likely to actually play out.