CRYPTO : BTCUSD LONGTERM SHORT BASED ON H&S + ABC CORRECTION !!
We've got a Head & Shoulders pattern completed (it is cleaner on the H4 but I've charted on daily to show the ABC correction as well).
Our first target will be $8k and second target is $5k. Stops would be above the $17k psychological resistance level.
Now that we've broken the neckline, I would expect a retest of the neckline as previous support and should now hold as resistance. This would complete the B-leg and from there a deep correction back to $5k-8k.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please Like & Comment if you agree with this setup and would like to see more Crypto setups from me.
Our first target will be $8k and second target is $5k. Stops would be above the $17k psychological resistance level.
Now that we've broken the neckline, I would expect a retest of the neckline as previous support and should now hold as resistance. This would complete the B-leg and from there a deep correction back to $5k-8k.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please Like & Comment if you agree with this setup and would like to see more Crypto setups from me.
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Disclaimer: I do not take all of the trades I publish.
Facebook Group: www.facebook.com/groups/aefx786
For my signal & fully automated copy-trading services, get in touch @ t.me/Ajaz_Elahi
Disclaimer: I do not take all of the trades I publish.