Yes, this is so interesting. To be honest, I didn't even notice the inverted head n shoulders until your further out view that you marked out the breakout. The phrase not seeing the wood for the trees springs to mind. Because of your warning I did not short and waited for a confirmation either way - Price Up or Price Down. I am learning to keep cool when trading, one candle changes everything sometimes. Thanks again @DatTong .
DatTong
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@ThasosPerifimou, cheer bro, hope you enjoy the thinking
TasPerry
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Thanks for this. I am not an expert in any way but I'm thinking that we may have some more downside. If we break the 50 day MA on the daily we could keep dropping. If we go to 8125 then in the next few days then I would somewhat agree with you. On the 4hr chart BTCUSD is now trading UNDER the 10, 50, 128 and 200 MA and this worries me. Thanks for your analysis I will put a follow on twitter and insta. Keep trading all.
DatTong
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@ThasosPerifimou, thanks for writing! H&S pattern effect just can happen when it drops out of the current support level, so we just can trade down when price does so. Currently, if price breaks up the level as depicted from my comment, I will go long instead. Trading is quite flexible based on how price runs, I don't have a fixed bias on everything.