After two fake breakouts, BTC is testing the countertrend again. And actually BTC didn't make a lower low after hitting 5800 dollars. So a inverse H&S is highly possible in this case.
I don't recommend anything right now, i just wanted to share my idea. There too much manipulative spikes.
BTC rejected very well from the -27.00% fib as I mentioned in my previous post. The candle on the 4H chart closed beneath the 200EMA. Then the price increased and closed the candle above the 200EMA. We could the retest the 200EMA once more before heading up. My target is still remaining as $9100.
I'm actually still bearish for Bitcoin. At the moment there is too much manipulation to invest for a short/mid term. If you want to make a investment for the longer term, i find it a pretty good price to buy Bitcoin.
My chart is pretty busy I know, but what i wanted to make clear is that the manipulation will take place for a bit longer. The target that i am...
Whay i see from my perspective is that a H&S pattern is in the make in the bitcoin chart. As you can see, the red resistance line is pretty strong. Make your decision after a real breakout. It can really go both ways
As you can see, the same scenario is taking place for the 3th time. Each time BTCUSDT hits the downwards countertrendline (red), the price falls dramatically. In my opinion, the real break out to the downside toward 4k will be when it breaks the black trendline. Sometimes fake breakouts takes place in the charts, so be carefull,
Your opinions are welcome
As you can see in my previous setup, btc is moving towards option 2. It looks like the H&S pattern broke the neckline, but i would wait and watch to see if it can break the huge support. If it can break the red support line, we can see a further drop to the true floor of btc (5000$)
Hi, just a idea about xrp. The grey rectangle is a major support level. The 4hr candle closed above the MA and hitted the countertrend for the 6th time. Can we see a breakout? Or will the support line tested again?
You can give you opinion below.