฿ Bitcoin BTC/USD Daily Video, June 13, 2024

Sive Morten

Special Consultant to the FPA
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19,006
Good morning,

Our major BTC bullish context, based on daily reverse H&S pattern remains valid and will be valid until ~60K area. Meantime, on intraday charts market has formed some bearish patterns, suggesting action to 64-64.5K area in a nearest time:

 
Good morning,

Our major BTC bullish context, based on daily reverse H&S pattern remains valid and will be valid until ~60K area. Meantime, on intraday charts market has formed some bearish patterns, suggesting action to 64-64.5K area in a nearest time:


What level do you recommend for short entry?
 
What level do you recommend for short entry?
I do not consider short positions, at least on daily/weekly scale until H&S has chances to work. On intraday charts it is possible theoretically. I would use Fib resistance levels from engulfing pattern on 4H chart. But major retracement already has happened.
 
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