BTC is giving a very clear H&S pattern on the 1D timeframe indicating a possible short trade to 12K levels, if this is accurate BTC price could dwindle by almost 55%
Comment
⋅
This is my first ever idea I've ever posted so please like👍
Will that happen when it breaks the 29k neckline????
edgarpoe
⋅
@AyushChhabra, Yes, it's bounced off the 30k support line before so if it was broken, it would most definitely go till 12k. Thanks for your comment
UnknownUnicorn10858208
⋅
@edgarpoe, but i think that 12k is extremely low. 25k and 20k are supports. people might start buying in extreme large quantities and HODL it for long term. what do you say???
Tradersweekly
⋅
@Ayush_Chhabra, Neckline would act as mechanical trigger for short entry (with stoploss above neckline). That is very conservative approach to this pattern.