BTC shoulder-head-shoulder pattern, no full target feeling
Hello everyone!!!
Welcome to another simple but powerful analysis, this post is related with my previous correct prediction which was almost exact.
Now as an update there's a bearish pattern being formed in 4hrs candles, but here's why I don't think it can be accomplished at all.
First of all in the whole btc history bull runs, biggest corrections have been around 38% given the 42k dlls ATH this means a 16k ish correction : 26k as target. This must be the full target for this bearish pattern but! according to the data, the whales made a massive investment just on 28k creating here the strongest support from now onwards that if broken the next support would be around 20k which according to what I just mentioned is not feasible!
Being said that the pattern will be invalidated once the bounce over 28.7k has crossed the neckline but the lower it could go is 26k.
Next buy: 28k
Next target: 50k
SL: 25k
Best Regards.
Welcome to another simple but powerful analysis, this post is related with my previous correct prediction which was almost exact.
Now as an update there's a bearish pattern being formed in 4hrs candles, but here's why I don't think it can be accomplished at all.
First of all in the whole btc history bull runs, biggest corrections have been around 38% given the 42k dlls ATH this means a 16k ish correction : 26k as target. This must be the full target for this bearish pattern but! according to the data, the whales made a massive investment just on 28k creating here the strongest support from now onwards that if broken the next support would be around 20k which according to what I just mentioned is not feasible!
Being said that the pattern will be invalidated once the bounce over 28.7k has crossed the neckline but the lower it could go is 26k.
Next buy: 28k
Next target: 50k
SL: 25k
Best Regards.