BTC - H&S Pattern point $25K Short Term

25 Sep 2023

Hi Traders, Investors and Speculators of Charts📈📉

The markets are trading in the red and weak price action on BTC indicates that sellers are dominating the short term, with a nasty Head and Shoulders pattern showing up in the 4h.

Shorting Bitcoin can be tempting, especially when prices are actively moving. However, acting on impulse without a plan leads to reckless gambling more often than not. Savvy traders wait patiently for ideal opportunities with defined risk-reward ratios. Also, the risk-reward setup isn't ideal for a leveraged position right on BTCUSDT.

BTC grabs attention when it moves, but plenty of other assets offer worthwhile trading opportunities. Expand your watchlist across stocks, forex, commodities, indexes, and more. Evaluate which markets are exhibiting solid technical setups right now. Don't feel pressured to trade BTC just because it's moving. Sometimes the best trade is no trade if conditions aren't ideal. There are other opportunities with better risk-reward setups than Bitcoin.


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CryptoCheck

26 Sep 2023

Nota

The longer we stay under the purple 200d MA, the higher risk for more severe downside:

26 Sep 2023

Nota

When we see the RED trendline starting to move back upwards towards the WHITE, it could be the first signs of bullish price action imminent:



Technical Indicator CryptoCheck START v3.5