Traders,
We have what appears to be an inverse H&S pattern playing out. The right shoulder still has not completely formed, so this is admittedly an early entry and more risky. But with Bitcoin holding it's supports nicely for over a week among other positive indicators, I'll take my chances here.
I bought at the 50 day ma for $1,837. The R/R is 3.37. Final shorter term target is at least 2313.70 (there is a much higher target for that Adam & Eve or some see a C&H pattern) at which point I may only sell half. Of course, I'll be raising my stops along the way. My SL will be some short distance below the 200 day ma.
Best,
Stew
We have what appears to be an inverse H&S pattern playing out. The right shoulder still has not completely formed, so this is admittedly an early entry and more risky. But with Bitcoin holding it's supports nicely for over a week among other positive indicators, I'll take my chances here.
I bought at the 50 day ma for $1,837. The R/R is 3.37. Final shorter term target is at least 2313.70 (there is a much higher target for that Adam & Eve or some see a C&H pattern) at which point I may only sell half. Of course, I'll be raising my stops along the way. My SL will be some short distance below the 200 day ma.
Best,
Stew
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
