ssari

BTC Potential HS in Play

BINANCE:BTCUSDT   Bitcoin / TetherUS
We are in a health consolidation mode as anything that goes up quick with volume will have a timely consolidation pullback.
I don't claim to be an expert but I like to share my ideas that make sense.

Observation:


  • Bullish trend (short term)
    1 hrly Candle sticks are above EMA 50 and 100 range, plus cross over over, indicating BULLISH

  • RSI in 4 hrly overbought conditions

  • Double bottom completed for a reversal

  • Volumes are appearing to return and at this moment, dropping off due to the consolidation


Conclusion:
Wait for the pullback to 4000-4100 range to jump in.
If candle sticks, RSI , MACD , etc indicate oversold, jump in otherwise wait for the next level of pullback to 3800-3900 before jumping in
Nov 28
Trade active:
Nov 29
Trade active: Bullish Pennant forming in the 3 m chart after hitting 4130 bottom(5)
Nov 29
Trade active: The action moving up might not have stopped yet,
Nov 29
Trade active:
Nov 29
Trade active: i am still bullish
Nov 30
Trade active: it looks like the pullback would be the 3900 range (probably over the weekend) to be complete that cycle.
Nov 30
Trade active: If we were playing odds favorite, my guess (as no-one knows)
Nov 30
Trade active: Is this the pattern before it goes towards 3000s
Dec 03
Trade active: Point 5 almost reached and now on the bottom of the triangle, Note: inverse H&S also broken,
Dec 03
Trade active: 4 hrly volume has dropped off, I would expect another drop. Next stage 3700s
Dec 06
Trade closed: stop reached: 3280 is the middle of the next bottom stage or round about

Comments

Maybe the head is the left shoulder of a bigger h&s
+1 Reply
ssari precision1998
@precision1998, we will find out soon. One can at times notice many smaller HS within the bigger HS.
Reply
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