Sive Morten
Special Consultant to the FPA
- Messages
- 18,685
Greetings guys,
Here is our update on BTC. On Friday we've said that it would be nice if we get B&B "Sell" pattern on daily chart. For this puprose market needs to show 3/8 upside retracement, but previously we had no signs of it.
As panic on the market is calming down a bit, BTC starts to form bullish pattern on hourly chart - this is reverse H&S. I'm not sure that it makes sense to go long here, but if BTC will climb to major 3/8 resistance area - this will be chance to sell with daily B&B pattern. Also take a look at Friday chart above - it will be simpler to understand the whole picture.
Here is our update on BTC. On Friday we've said that it would be nice if we get B&B "Sell" pattern on daily chart. For this puprose market needs to show 3/8 upside retracement, but previously we had no signs of it.
As panic on the market is calming down a bit, BTC starts to form bullish pattern on hourly chart - this is reverse H&S. I'm not sure that it makes sense to go long here, but if BTC will climb to major 3/8 resistance area - this will be chance to sell with daily B&B pattern. Also take a look at Friday chart above - it will be simpler to understand the whole picture.