If you want to trade with the percentages on your side then you should not buy right now!
Why?
Because I see a big head and shoulders formation forming.
And if this pattern plays out we will fall for a while and you will be able to get your BTC much cheaper.
But even if the pattern doesn't play out it would not be a good idea to buy right now (at least if you want the percentages to be on your side), because we are about to hit a major resistance (with a high percentage that we will get rejected).
But what if the pattern doesn't play out and BTC goes to the moon?
Let me introduce to the feeling of FOMO.
I know it hurts.
Ok in all seriousness if the pattern doesn't play out I will wait for conformation and a retracement in order to get some more BTC.
Why?
Because I see a big head and shoulders formation forming.
And if this pattern plays out we will fall for a while and you will be able to get your BTC much cheaper.
But even if the pattern doesn't play out it would not be a good idea to buy right now (at least if you want the percentages to be on your side), because we are about to hit a major resistance (with a high percentage that we will get rejected).
But what if the pattern doesn't play out and BTC goes to the moon?
Let me introduce to the feeling of FOMO.
I know it hurts.
Ok in all seriousness if the pattern doesn't play out I will wait for conformation and a retracement in order to get some more BTC.
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Here is my in depth analysis of BTC and how I would trade it:
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If the pattern doesn't play out, I will wait for a retracement of the first impulsive move before I grab some more BTC.
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H&S still very possible with EW count which supports it:
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Small Update:
The H&S pattern worked out as expected, we bounced of the cloud. Everything I stated in this post still holds true. Therefore I expect the price to fall even further.
The H&S pattern worked out as expected, we bounced of the cloud. Everything I stated in this post still holds true. Therefore I expect the price to fall even further.