Greetings guys,
Although our H&S pattern on daily chart is still valid, at least on paper, but the action that we see on 4H time frame increases chances of failure.
As you can see the daily right arm bottom takes the shape of smaller 4H H&S pattern. Normal price action suggests upside acceleration as soon as H&s has been formed.
But here we see opposite picture - flat action and triangle shape. This is not normal. Only external driving factor could push BTC up, but technical picture warns that something is wrong.
So, if you already have longs - move stops to breakeven or, just under the lows of daily right arm. If not - stands a side for awhile.
Although our H&S pattern on daily chart is still valid, at least on paper, but the action that we see on 4H time frame increases chances of failure.
As you can see the daily right arm bottom takes the shape of smaller 4H H&S pattern. Normal price action suggests upside acceleration as soon as H&s has been formed.
But here we see opposite picture - flat action and triangle shape. This is not normal. Only external driving factor could push BTC up, but technical picture warns that something is wrong.
So, if you already have longs - move stops to breakeven or, just under the lows of daily right arm. If not - stands a side for awhile.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。