Hi. I just saw this and stopped my trade. this may be a SHS forming. It would make sense since we ended up to a level to form a perfect bowl in the daily. Or will it be a cup? It's still possible that the bowl is not finished, though. But I think we will first go direction 41000 anyway.
There is an opportunity to buy all cryptos for a lower price then the last weeks, maybe not ETC but all other.
In the BTC Coinbase 45 min view is a Shoulder Head Shoulder Pattern, yesterday evening i saw this SHS at the purple resistance line, but wasn´t sure if there is maybe a higher high, but wasnt.
Let us see what happening.
We have a well respected s/r zone here which was tested 3times from above before breaking
Now we just saw the first test from underneath on the daily Timeframe.
The interesting part is that price is forming a SHS formation right under this s/r zone while the Head already retested it .
Such a formation on a location like this is a great sign that we may see a...
the question is can we break through the neckline and close below it ?!
If yes we have a nice short trade here with a lot of space to the downside.
What i also like for a short is the 200 sma lines up with the neckline and in case of a break i see this as an double confirmation.
On the other hand a long scenario is also possible.
We already see a bullish...
everyone is concerned about Bitcoin being a bubble which is about to burst the entire Cryptomarket.
What we see is a neutral market on its way to decide which path we choose to go and how we deal with that "bubble".
There is one important fact we need to mention before we talk about a "Crash" if Bitcoin drops under the green Nackline of the first...
-We see a pretty nice SHS formation while price is breaking through the neckline support
-the rising Trendline is already broken this indicates a possible shift in direction
-we also have a falling rsi divergence giving us some more confirmation
patience is the key so as long as price didnt break the neckline there is no need to do anything
a new higher high will...
The SHS short did not perform as planned... but maybe it will very soon as a little up now could result in EUR going down for quite some time, but who knows... Looking at the SHS in the begining of 2017 there was also an extra low after the SHS before the long run up... so maybe more down...
However this is posted just to show that there is a posibility that an...
Ok, this is an easy setup. Now why am i shorting right now right here. Because i am also looking at other GBP pairs, and they are all looking very heavy.
Especially GbpChf also made a nice SHS pattern and broke lower. I'm looking there for a small bounce to short it too.
Blessings to you.
Edit: I'm sorry while typing it fell almost 30 pips, i could not post it...