Bitcoin rally possible now? Reverse head & shoulders?
Hi guys! Most of you right now think of this symmetric triangle, continuation pattern and BTC breaking down. However:
1) As someone noted, the same situation was there in April lows, and the symmetric triangle broke upwards!
2) I also see possible reverse head & shoulders pattern on my chart - I denoted the possible outcome by blue arrow.
But I don't really know, I am a beginner. I just wanted to say, perhaps it's not that one-sided and rally up is possible now?
What do you think? Is it going to break up or down? Did you buy BTC already or are you still waiting?
Me personally, I am betting on the break down, so I am not buying now, but I also don't want to miss possible rally up, so I am now placing a buy stop loss @ 5705. Why 5705? Because there are lot of sellers having their orders at 5700. What do you think? Your comments are welcome.
1) As someone noted, the same situation was there in April lows, and the symmetric triangle broke upwards!
2) I also see possible reverse head & shoulders pattern on my chart - I denoted the possible outcome by blue arrow.
But I don't really know, I am a beginner. I just wanted to say, perhaps it's not that one-sided and rally up is possible now?
What do you think? Is it going to break up or down? Did you buy BTC already or are you still waiting?
Me personally, I am betting on the break down, so I am not buying now, but I also don't want to miss possible rally up, so I am now placing a buy stop loss @ 5705. Why 5705? Because there are lot of sellers having their orders at 5700. What do you think? Your comments are welcome.
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