BITCOIN ๐คฏIs it real H&S pattern?๐ง
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Hi, today I received a lot of questions about the formation of the <<Head and Shoulders>> pattern on the Bitcoin price movement.
Guys, I understand, that the market is in a state of correction now, and seeing this pattern makes you nervous.
But let's try to figure out what may await us in the near future.
On the left side of my chart, you see the current situation. If the price breaks the neckline, only after that you can go into short position. IMHO, ONLY after breakdown 28 k we'll can talk about a trend reversal and worry about the subsequent dominance of bears in the market.
To be honest, I don't think this will happen. This can't be denied, but in my opinion it's unlikely.But who knows...
On the right side, you can see several similar movements in Bitcoin when the price WOULD LIKE to form this pattern, but the neckline was not broken and prices moved up.
DON'T TRY TO OUTSTIP THE MARKET! It will bring you only losses!
I know, that many guys have made tutorial posts on <<how to trade the Head and Shoulders pattern>>, I don't know if You need another one from me.
If you need it, let me know about it in the comments๐
I try to do my best for you, my dears๐
Stay with me๐
Your Rocket Bomb๐๐ฃ
Guys, I understand, that the market is in a state of correction now, and seeing this pattern makes you nervous.
But let's try to figure out what may await us in the near future.
On the left side of my chart, you see the current situation. If the price breaks the neckline, only after that you can go into short position. IMHO, ONLY after breakdown 28 k we'll can talk about a trend reversal and worry about the subsequent dominance of bears in the market.
To be honest, I don't think this will happen. This can't be denied, but in my opinion it's unlikely.But who knows...
On the right side, you can see several similar movements in Bitcoin when the price WOULD LIKE to form this pattern, but the neckline was not broken and prices moved up.
DON'T TRY TO OUTSTIP THE MARKET! It will bring you only losses!
I know, that many guys have made tutorial posts on <<how to trade the Head and Shoulders pattern>>, I don't know if You need another one from me.
If you need it, let me know about it in the comments๐
I try to do my best for you, my dears๐
Stay with me๐
Your Rocket Bomb๐๐ฃ
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๐ฐ I'm using Bybit and I highly recommend it to You
bybit.com/invite?ref=7X0W2A
Boost Your TV account๐
tradingview.com/pricing/?share_your_love=RocketBomb
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