BTC plunged and took nearly every other crypto down with it. At this time, it has recovered some of those losses, but it has formed a clear Head & Shoulders pattern, which is potentially bearish....but there is good news....
The good news is that Bitcoin remains in the bullish trend that began in March. Only a fall below about $9000 would cancel that upward trend, and we're still a long way from that point. As shown in my ETH post on Aug 30, when we're already in a bull trend, H&S patterns often end with an upward thrust, a failure of the bearish pattern. So there is still hope. But this is a dangerous time to enter new crypto trades.
The good news is that Bitcoin remains in the bullish trend that began in March. Only a fall below about $9000 would cancel that upward trend, and we're still a long way from that point. As shown in my ETH post on Aug 30, when we're already in a bull trend, H&S patterns often end with an upward thrust, a failure of the bearish pattern. So there is still hope. But this is a dangerous time to enter new crypto trades.
THE CRYPTO TRADER: How anyone can make money trading Bitcoin and other cryptocurrencies
Published by Harriman House.
This link should take you to your local Amazon site.
getbook.at/TheCryptoTrader
Published by Harriman House.
This link should take you to your local Amazon site.
getbook.at/TheCryptoTrader