Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Let me know your thoughts on my analysis!
Cheers, Amol
Comment
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The 4h chart shows a temporary bottom hit around this 8618 low we put in yesterday. We've since climbed up about $250+ but the near-term momentum still points down. In the development of the H&S pattern, I'm also aware of the falling wedge pattern. Neither of which have been confirmed.
We can still get to the trend line from the prev. large ABCDE triangle pattern + the top of the wedge around 9060 and still be in a downtrending movement. However, if we break out of the falling wedge + inside the triangle then i'd say the momentum has shifted towards the bulls a bit more favorably again.
If we do break down from the wedge, I'd say we then activate the measured move down from the breakdown of the triangle, around $7100.
thank for the update....good one...did not see that h & s,nobody on tv either....take care
AurieK
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@AurieK, maybe up a bit to catch the gap, didn't think they would open, thought it a holiday....
Crypt1cLyfe
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Great TA brother, love the non biased all corners covered take on the situation.
Keep up the awesome work and I wish you more profit for your positions.
TheAlphaTrades
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@Crypt1cLyfe, Thanks a lot my friend!
Wish you massive gainzz too :)