Bitcoin- The H&S will not pay off ( Just my opinion:) )
The more I look at Bitcoin's price action, the more bearish I become.
If I've learnt something trading for 20y is that things like "look, here is support, I will stay here all week for all to see, buy and MAKE MONEY" are in 99% of the cases traps.
Besides, I saw a lot of analyzes arguing an H&S, for us to speak of an H&S the price needs first to pass 60k.
Technically speaking we are in a range and the pressure is on the downside and, as I've mentioned before, a break under support is bearish.
Also, if we have this break, I don't think BTC will stop its descent at 53, again, it will be too obvious and considering that such a break would confirm a more than 2 weeks distribution, the drop should be aggressive.
I will stay with my short trades for the time being and only BtcUsd above 60k would make me rethink.
If I've learnt something trading for 20y is that things like "look, here is support, I will stay here all week for all to see, buy and MAKE MONEY" are in 99% of the cases traps.
Besides, I saw a lot of analyzes arguing an H&S, for us to speak of an H&S the price needs first to pass 60k.
Technically speaking we are in a range and the pressure is on the downside and, as I've mentioned before, a break under support is bearish.
Also, if we have this break, I don't think BTC will stop its descent at 53, again, it will be too obvious and considering that such a break would confirm a more than 2 weeks distribution, the drop should be aggressive.
I will stay with my short trades for the time being and only BtcUsd above 60k would make me rethink.
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t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
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