Hi,
Its getting hard now, isn't it. My charts explain my thoughts for the 2 scenarios.
I see this level as a small H&S just like a smaller version in August, chart below.
However its possible that this is another Wychoff scenario, a continuation pattern.
If the current support level doesn't hold, it opens the door for further downs as per chart, still remains bullish.

Making use of the Bitcoin log growth curve tool, we might have a bit more to go for the next major fib level, as per chart below.


Head and shoulder scenario


If current support level doesn't hold, it opens the door for further downs as per chart, still bullish.
However breaking this red zone, opens it for a deeper pullback.

August 2020, using the top structure formation to point out the H and S scenario (ref.H.chart)

Just leaving it at that.
All the best.
S.SAri
Its getting hard now, isn't it. My charts explain my thoughts for the 2 scenarios.
I see this level as a small H&S just like a smaller version in August, chart below.
However its possible that this is another Wychoff scenario, a continuation pattern.
If the current support level doesn't hold, it opens the door for further downs as per chart, still remains bullish.
Making use of the Bitcoin log growth curve tool, we might have a bit more to go for the next major fib level, as per chart below.
Head and shoulder scenario
If current support level doesn't hold, it opens the door for further downs as per chart, still bullish.
However breaking this red zone, opens it for a deeper pullback.
August 2020, using the top structure formation to point out the H and S scenario (ref.H.chart)
Just leaving it at that.
All the best.
S.SAri
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This community has signals now but with no risk management comms.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.