Morning guys,
our H&S setup has done well and market has hit minimal AB=CD H&S target. Now, price stands at strong 4H support area and we expect upside bounce today.
3950 should become a signal area. Since this is neckline of H&S pattern - BTC could show upside retracement, forming AB-CD and "222" Sell pattern. But, to keep bearish sentiment valid it should not break
above it. So this simultaneously entry point for bears and signal area for bulls. If, somehow BTC shows upside breakout of 3950 and keep going higher - it means that H&S is done and we are on the road to 4085$ target, which is still valid.
If no surprises happen and BTC turns south around 3950 - watch for XOP target around 3770$
our H&S setup has done well and market has hit minimal AB=CD H&S target. Now, price stands at strong 4H support area and we expect upside bounce today.
3950 should become a signal area. Since this is neckline of H&S pattern - BTC could show upside retracement, forming AB-CD and "222" Sell pattern. But, to keep bearish sentiment valid it should not break
above it. So this simultaneously entry point for bears and signal area for bulls. If, somehow BTC shows upside breakout of 3950 and keep going higher - it means that H&S is done and we are on the road to 4085$ target, which is still valid.
If no surprises happen and BTC turns south around 3950 - watch for XOP target around 3770$
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.