Hello my BTC' SHORT friends,
Next update on the 4 hours chart of Bitcoin. We're still in the H&S pattern, however it does not look so good. There was a fail to finish the smaller inverse H&S pattern, I deleted it because it's not valid anymore. So it was obvious the draw the triangle in orange.
The triangle allready breaks and is straight away on his way to create and finish a bear flag, in a natural way we go down. Okay, natural and bitcoin is a bit confusing as well according to the tittle of this post. If the red arrow breaks every resistance on trendlines we're on the way to create an massive all time H&S where I was hoping for since I went short around 9.6k (see previous posts).
If that happens we have a big chance it breaks trough the neckline of the H&S. In case this happens the pink arrow says enough.
Looking back at my previous post and this title, everything is still possible.
Feel free to comment on my chart and take a view on my other posts, I am here to learn. Thanks!
B.aware & good luck trading!
B.
PS. I'm not daytrading, I just follow the markets and I'm looking to get back in at the right moment.
Next update on the 4 hours chart of Bitcoin. We're still in the H&S pattern, however it does not look so good. There was a fail to finish the smaller inverse H&S pattern, I deleted it because it's not valid anymore. So it was obvious the draw the triangle in orange.
The triangle allready breaks and is straight away on his way to create and finish a bear flag, in a natural way we go down. Okay, natural and bitcoin is a bit confusing as well according to the tittle of this post. If the red arrow breaks every resistance on trendlines we're on the way to create an massive all time H&S where I was hoping for since I went short around 9.6k (see previous posts).
If that happens we have a big chance it breaks trough the neckline of the H&S. In case this happens the pink arrow says enough.
Looking back at my previous post and this title, everything is still possible.
Feel free to comment on my chart and take a view on my other posts, I am here to learn. Thanks!
B.aware & good luck trading!
B.
PS. I'm not daytrading, I just follow the markets and I'm looking to get back in at the right moment.
註釋
Just after my post I saw that the beervlag was broken and Bitcoin is going down again. I will lower my stoploss as well.Here is the chart zoomed in:
註釋
* Bear flag, haha autocorrection in my language
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