I'm generally very bullish on BTC and crypto in general. As far as formations go, H&S has shown to be somewhat unreliable for BTC in the past year. We've recently had a nice 50% correction from our ATH over the last month and BTC and showed strong support at the $12.5k level. I still feel bullish on BTC in the short and long term, but I'll likely take profit at the top of the right shoulder ($16.3k ish) and see how the H&S plays out. If it disregards the H&S I'll buy back in at a loss, no big deal. If it plays out I'll look to re-enter around the $12k level.
Tax season is upon us, so lots of people will be receiving their tax refund. That may be a small catalyst for a bullish continuation in the next 3-4 months considering the amount of media coverage BTC has received recently. I'm still long on BTCUSD despite a beautiful bearish formation forming.
Tax season is upon us, so lots of people will be receiving their tax refund. That may be a small catalyst for a bullish continuation in the next 3-4 months considering the amount of media coverage BTC has received recently. I'm still long on BTCUSD despite a beautiful bearish formation forming.