moving with H&S pattern
Morning folks,
So, our recent "222" is done and market re-tested 37K daily trend line support. With relatively dovish Fed comments, BTC gets the chance to show the bounce. If we get the pattern on the weekly chart- upside action could stand for 4-5K.
Meantime, on 1H chart, market is forming the H&S pattern. Currently upside target based on AB-CD pattern stands slightly higher. Supposedly it should be the neckline. If we 're correct - then the bottom of the right arm, as usual, seems to be attractive point to consider the long entry
So, our recent "222" is done and market re-tested 37K daily trend line support. With relatively dovish Fed comments, BTC gets the chance to show the bounce. If we get the pattern on the weekly chart- upside action could stand for 4-5K.
Meantime, on 1H chart, market is forming the H&S pattern. Currently upside target based on AB-CD pattern stands slightly higher. Supposedly it should be the neckline. If we 're correct - then the bottom of the right arm, as usual, seems to be attractive point to consider the long entry
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/
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