Bearish Head & Shoulders Pattern Looms On BTC
The price of bitcoin is dangerously close to the neckline of the head and shoulders pattern.
Will it find support and work its' way higher? It's already trading below the 20 and 50 day moving averages, and the 200 day is a long way away, so it won't find support there.
Or will it continue down through the neckline and set up an new base below this one?
I have no idea, and anyone telling you that they do is a liar. But if you're buying here be careful.
NVDA recently had a very similar set-up. I bought it as it turned back up, after I believed it had found support below the 20 and the 50 day. So far that trade has worked out for me, but that doesn't mean that BTC will do the same.
Will it find support and work its' way higher? It's already trading below the 20 and 50 day moving averages, and the 200 day is a long way away, so it won't find support there.
Or will it continue down through the neckline and set up an new base below this one?
I have no idea, and anyone telling you that they do is a liar. But if you're buying here be careful.
NVDA recently had a very similar set-up. I bought it as it turned back up, after I believed it had found support below the 20 and the 50 day. So far that trade has worked out for me, but that doesn't mean that BTC will do the same.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.