Short

Zaktualizowano

BTC - Head and Shoulders Bull Trap Reversal

BTC remains bearish, with the next short target at the 0.236 Fib at 3500. I maintain that we are at the bottom of a bear trap, and expect a inverse head and shoulders reversal pattern to establish with the neckline at 4700, the shoulders at 4000 and the head at 3500.

This pattern will likely complete with the right shoulder at the end of the week. This fits with the end of week shift in sentiment that often occurs in BTC.

There are 4 major trade opportunities here: Long from 3500, short from 4700, long from 4000 and long from 4700.

Uwaga

Uwaga

Potential nested H&S

Uwaga

H&S Target update:
Neckline = 4600
Right Shoulder = 4200
Head still = 3500

Uwaga

Transakcja zamknięta: osiągnięto wyznaczony cel

First target hit

Uwaga

Index price higher than margin exchange price - can indicate downward pressure of long squeeze

Uwaga

sell walls suggest potential price suppression for accumulation

Uwaga

That is the lowest price that bitcoin will trade for, until the bubble bursts in the 2030s

Uwaga

Stop Loss raised to above entry, additional entry added at 3654

Uwaga

Still looking for right shoulder

Uwaga

That could be deep enough for the right shoulder, following the recent spike from 3500. I'm now looking for a breakout of the neckline

Uwaga

Order book suggests potential long squeeze through 3600

Uwaga

Short squeeze target 3587

Uwaga

Long squeeze now seems unlikely, H&S should complete soon

Uwaga

H&S almost complete

Uwaga

Neckline breakout, 21 min 77 SMA cross

Uwaga

next target is the neckline of the longer term triangle at 4600

Uwaga

Title should read "Bear Trap", not "Bull Trap"

Uwaga

Title should read "Bear Trap", not "Bull Trap"

Uwaga

Title should read "Bear Trap", not "Bull Trap"

OrigamiOracle

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