amirulopu
Singkat

BITCOIN Review : H&S Pattern | Selling Opportunity on 4hr Chart

BITSTAMP:BTCUSD   Bitcoin / Dolar
Bitcoin             Review :
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Bearish Momentum on 4hr chart. We have seen Head & Shoulder pattern is forming. Possibly recent rally has created the Right Shoulder. Price needs to close below the neckline (12700) to confirm the Head & Shoulder Pattern. Price & RSI have got resistance on descending trend-line.

Invalidation : If price & RSI break the descending trend-line (red color) towards upside, than price will continue to rally.

Recently, Price and RSI had broken descending trend-line towards upside and it was the first signal of impending trend reversal. Also there was a bullish Fakey setup. Price got increased nicely as expected.

Previously we saw price had fallen down sharply after showing a regular bearish divergence.

Peter Lynch says, ''Anybody can be successful in the trading world by magnifying his/her skill and doing some research."
So you can improve & magnify your skill by conventional knowledge & experience.
lets say the market id highly manipulated! I dont think the H&S patter will stand it come out of worst scenarios than this so be careful close your shorts quick and watch on the sidelines to be safe!
Balas
amirulopu blankz13
everyone wants bitcoin price to go up.. so do I. But now bearish momentum is going on... hope bullish momentum will be coming...
Balas
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