I am seeing a head and shoulders form here in the Bitcoin charts. I am waiting for a breakout and confirmation of the neckline, if that is the case then I will be shorting BTC. My ideal entry price will be around $36.5k and my ideal profit zone will be <$35.5k. I also believe on the macro we are going into Phase C of a Wyckoff accumulation #2. Which predicts this...
The head and shoulder I've been watching develop here on Bitcoin & Ethereum is forming a very bullish resistance box, accumulating for a move in my opinion. Wait for a breakout of the box, a retest as support, & a big move to the upside!
A head and shoulder has formed here on ETH. A breakout or rejection on the neckline is imminent. A price target of $2800 is the ideal profit zone if the breakout is confirmed.
I'm starting to see an inverse head and shoulder forming here. Not confirmed, but po0tetially a very good trade setting up. Overall sentiment; I believe we are in a Wyckoff Accumulation event and that the price of bitcoin and the market will reverse.
Going to keep a very close eye on this potential Wyckoff Accumulation reversal. Especially with the sentiment in the market this would make a lot of sense. Food for thought.
We have an M forming up here, inside this triangle/tripple bottom/top pattern. Bitcoin has broken the M with momentum to the downside, if it breaks the traingle pattern I am almost certain a breakout of the 31k support will bring us into this next short trade, which is setting up very well here in the charts.
