BTC UPDATE 3/23 BIG DECISION COMING

in #bitcoin8 years ago

BULLLLLLLLLLISH !!!!!!!

$BTC bounced right off the iHS support and is looking to follow through to >9k to complete the pattern... I'll update a measured move and target if BTC confirms pattern.. heres a 6h chart... strong bullish divergence on RSI too..

Screen Shot 2018-03-23 at 1.05.11 PM.png

WHERE THE BULLS AT, WE BEARISH OVER HERE!!!

2h chart

The reason why the bears are somewhat excited right now is this H&S pattern, it is a smaller TF pattern but if it plays out its measured move (top of head-neckline, $9100-$8300= $800) is an $800 move down taking us to 7.6k ish and invalidating the longer term iHS pattern...waiting for confirmation of the H&S

Screen Shot 2018-03-23 at 1.09.05 PM.png

SO, what we will see:

Bulls want this: Rejection of smaller TF H&S, steady continued bounce off $8300 support and a daily close above $8800

Bears want this: H&S to complete, dropping price sub 8k and testing recent low of $7400...

My #1 piece of advice is to take this trade objectively and trade the patterns/price action slowly and wait for confirmation..better R/R plays...good luck mates

As always, please upvote, comment and follow for more content!!

I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or picks, expressed or implied herein, are for informational, educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.

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