BTC H/S a MEME? Or will we break up if we break neckline?
H/S is one of the more higher probability patterns for charting and trading. Since this H/S bottom is on the 4 hr chart (and the daily) then we could see a break upwards.
With BTC, I have seen so many "obvious" patterns end up getting slammed down by fickle traders and market makers. However, the larger patterns on higher timeframes tend to be less susceptible to manipulation, so I am thinking there is a decent chance of going upward is we can break the neckline of this H/S bottom.
Here are a few resistance points which could offer a challenge to the bulls on the way upward IF we break upward.
Also, some of these structure based points do coincide with relevant fib levels as pertain to impulse leg breakouts from H/S.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
With BTC, I have seen so many "obvious" patterns end up getting slammed down by fickle traders and market makers. However, the larger patterns on higher timeframes tend to be less susceptible to manipulation, so I am thinking there is a decent chance of going upward is we can break the neckline of this H/S bottom.
Here are a few resistance points which could offer a challenge to the bulls on the way upward IF we break upward.
Also, some of these structure based points do coincide with relevant fib levels as pertain to impulse leg breakouts from H/S.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***