Morning guys,
As we've suggested the price action around right arm's top of our H&S pattern will give us the direction. Now we've got it, direction is up.
We have multiple targets above, but right now it is more interesting how to jump in.
We think that it would be better to wait for some pullback. This could give us few different patterns. Thus, we could get DiNapoli B&B "Buy" on 4H chart around major 3/8 Fib support, and/or "222" Buy pattern as well.
Jumping in right now provides unclear risk/reward ratio and could be costly.
Besides we warn you - keep an eye on 5840$. Although BTC behaves strong on daily, breaking through major 5/8 resistance area, we still have there the risk factor - possible 3-Drive "Sell" pattern, which could start from 5840. Thus, if surprisingly, BTC starts dropping around this area - don't take long position and wait.
As we've suggested the price action around right arm's top of our H&S pattern will give us the direction. Now we've got it, direction is up.
We have multiple targets above, but right now it is more interesting how to jump in.
We think that it would be better to wait for some pullback. This could give us few different patterns. Thus, we could get DiNapoli B&B "Buy" on 4H chart around major 3/8 Fib support, and/or "222" Buy pattern as well.
Jumping in right now provides unclear risk/reward ratio and could be costly.
Besides we warn you - keep an eye on 5840$. Although BTC behaves strong on daily, breaking through major 5/8 resistance area, we still have there the risk factor - possible 3-Drive "Sell" pattern, which could start from 5840. Thus, if surprisingly, BTC starts dropping around this area - don't take long position and wait.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.