I am back into Crypto again. After a long bout in only trading stocks I feel I have honed in my TA a little more, simplified it and have been better at looking for patterns and letting them play out. $BTC is showing me something here that could give us our moon shot into the end of the year or early next year. I would love to see this Inverse Head and Shoulders play out.
Why I believe it will happen.
- Futures will want to fill that gap. Could be a shock to the system causing a little more selling.
- We will want to create a higher low, this is healthy and will cool off oscillators.
- Testing the 50 or 100MA and bouncing from it will be *chefs kiss*
- Adding as well testing the long term trend line that was broken a few weeks back.
Long term this would be bullish to print this higher low. I know I will be there ready to buy the dip!
Why I believe it will happen.
- Futures will want to fill that gap. Could be a shock to the system causing a little more selling.
- We will want to create a higher low, this is healthy and will cool off oscillators.
- Testing the 50 or 100MA and bouncing from it will be *chefs kiss*
- Adding as well testing the long term trend line that was broken a few weeks back.
Long term this would be bullish to print this higher low. I know I will be there ready to buy the dip!
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Update: We have rejected on the trendline and look poised to create the shoulder for our iH&S.
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My O my, we have ourselves an attempt at the gap. Look poised to fill it. WIll look for a lot of volume there and a reversal to the upside.
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Didn't meet the gap but its looking bear flagish on 4H chart. I think we make another attempt.