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RE: BITCOIN (BTC) Update: Perma Bear or Perma Bull, BOTH are WRONG!
The only thing he says is there may (or may not) a reversed LS - H - RS being formed. If so, it will be confirmed the next couple of days. This pattern is a bullish signal.
If you choose to follow this scenario and decide to trade to it, the right shoulder has to form and prices need to go lower, could be a better entry point than now. You make you're own decision.
Thanks Leftrin. OK so prices have to retrace to about $4300 to form a RS, which could be an entry point. But we will only know if prices bounce again from $4300 or continue to retest $4000.
Are you a technical trader btw?
haha, i'm not a technical trader. still learning every day
Please consider using the two TA books I recommended in past blogs.
so the last shoulder isn't there yet? it kinda looks like a shoulder to me, Whats the distinguising factor that we can know for sure that the shoulder is formed or complete?
Thanks for your help!