Pretty clear setup technically, 70 percent chance imo neckline of the inverse shoulder head shoulder pattern will be broken, and the subsequent target I dare to put around 54K.
I will update short frames going on from here, I needed a fresh entry to do just that. ;)
Under 51400 (except for a pierce and bounce scenario, we know those kind of irritations, it's part of trading/risk management), this ST play is invalid. Then we'll have pierced a minor low and we willl trade under current Bollinger 15. It does not negate the MT bullish timeline however, just this short term setup. Bears need to do a lot to break in, at this moment.
I will update short frames going on from here, I needed a fresh entry to do just that. ;)
Under 51400 (except for a pierce and bounce scenario, we know those kind of irritations, it's part of trading/risk management), this ST play is invalid. Then we'll have pierced a minor low and we willl trade under current Bollinger 15. It does not negate the MT bullish timeline however, just this short term setup. Bears need to do a lot to break in, at this moment.
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Getting there, first attack
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We played more of a triangular setup instead of an inverse shs (although very stretched the latter figure still could stand).
Or how you can be 'wrong' and 'right' at the same time. ;-)
Targets are reached, but BTC is still going strong. I would not close on all ST longs.
Or how you can be 'wrong' and 'right' at the same time. ;-)
Targets are reached, but BTC is still going strong. I would not close on all ST longs.
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New ishs, now neckline, target 61k
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15min on Stamp, other exchanges even more clear
15min on Stamp, other exchanges even more clear
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Neckline broken
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Target ishs not reached, not even close. On the contrary, we went under the neckline and then it's always caution. Downwards pressure still in process. Could bottom around here, but I look more below for sweeter spots.
ma50 4h or maybe even below that. In the latter scenario, the scope is that the ma50 will act as a magnet and will be brought back to the bulls.
It all remains to be seen from a zoomed in view with regard to exact entry spots, once we arrive there.
ma50 4h or maybe even below that. In the latter scenario, the scope is that the ma50 will act as a magnet and will be brought back to the bulls.
It all remains to be seen from a zoomed in view with regard to exact entry spots, once we arrive there.
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Quite a nice spot here, nice on the trendline, close to the ma50 4h.