Short Idea for BTCUSDT (bar pattern)

26 במרץ 2023

The impulse wave and megaphone on a higher candle TF is printing something similar on a smaller time frame, i pasted it down to scale for a better observation.

I think the 31st of march will determine trend direction based on if its going to play out the last part of the wave: the ABC leg down, see for reference the blue vertical line.

Weekend is notorious for baiting retail. Expect the opposite to usually play out tues-thurs when market makers come out to play.

I do think the head and shoulders seen below will play out, sending price to my target stated above, around 30-31k. An inverse head and shoulders pattern has a measured move equal to the distance from the lowest point in the pattern to the neckline projected from the neckline. see orange Xs and red vertical lines