Hi my friends,
Again thanks you all for your kindness and togetherness with me.
I publish this idea apart of BTC Realtime by 3 main reason:
1.BTC Realtime is a weakly topic with focus on BTC little movements during day and this is a independent idea about one pattern in chart.
2.This idea need to be seeing in itself topic,as you know BTC Realtime it's a long topic with many many updates and publishing this on that topic cause to this idea not seeing,at the end.
3.This idea can be wrong and fail at the end and i'm very strict about validity of signals that publishing in BTC Realtime and don't want mislead those has trust in me with an unwell idea.
So let's see what is in my head.
As you remember i published BTC Realtime #6 with 3 iH&S in BTC chart,all of us enjoyed profit we earn during last weeks with 2 perfect iH&S that worked perfectly,but i look at BTC chart more precise and find out that maybe my iH&S #2 didn't work and we are in forming head phase,still.
During my precise look at chart i found this signs that shows me i can be right.Look at chart bellow:
As you see exactly after connecting #1 point to #2 our line(neckline) reach the high that BTC printed in 24th of month around 8500.That was beautiful and like we are in right shoulder forming,but how?look at chart bellow:
We started to talk about this bearish wedge from 2 days ago in BTC Realtime #8 and all of us are curios about how this wedge will work.I can imagine several scenarios with mixing iH&S and This wedge.
1.Do you remember BTC old triangle that started before last dec?I draw it for you in chart bellow.
This line during whole bear market played support role for BTC and finally broke in June and turned to a Resistance for BTC,but we broke it again easily few days ago.Now it's time for this line to play another important role for BTC,what role?look at chart bellow?
As you see in chart we can use bearish wedge to drop to this old support/resistance line and test it again as a support,and after reaching there and test it,start to climb and complete right shoulder.
As you see chart in 4H time frame you can see in this area many factors can play support role with old line like EMA(20,50,100,200,1200) and ichimoku.
This scenario is too beautiful and ideal to become true,but have chance,lot chance to win.
2.We can exit this wedge in calm,with a sideway along the bullish wedge line(that almost broke 2 days ago but couldn't confirm it,yet) like chat bellow.
This scenario shows BTC's new trend Strength and Power of bulls,But i think this idea have not many chance to win.
3.After we reach this bearish wedge line again,Price bounce to neckline and some how fail to break it and confirm IH&S.At this case BTC can drop from this wedge to the old bullish wedge(almost broken) and test it as a support and bounce from there to make right shoulder again.This kind of iH&S named Complex H&S that is a very rare kind of it.In this kind we have a 2 shoulders.like chart below
4.There is one another possibility with this iH&S that it work finally with no interest in this bearish wedge and show that this wedge is not validate one.
I open all possibilities with that iH&S but i didn't open the case that maybe this pattern fail and what happen if there isn't any iH&S in chart,at all.So i show you here.
As i mentioned in this idea many time,this bullish wedge(blue wedge) don't break yet and we just played with it and almost broke it.The bearish wedge can easily revers BTC path and bring it into the bullish wedge again.In this case we continue downward to $5100 and really have much possibility for that,even in indicators that i don't want to talk about in this idea.
Again thanks you all for your kindness and togetherness with me.
I publish this idea apart of BTC Realtime by 3 main reason:
1.BTC Realtime is a weakly topic with focus on BTC little movements during day and this is a independent idea about one pattern in chart.
2.This idea need to be seeing in itself topic,as you know BTC Realtime it's a long topic with many many updates and publishing this on that topic cause to this idea not seeing,at the end.
3.This idea can be wrong and fail at the end and i'm very strict about validity of signals that publishing in BTC Realtime and don't want mislead those has trust in me with an unwell idea.
So let's see what is in my head.
As you remember i published BTC Realtime #6 with 3 iH&S in BTC chart,all of us enjoyed profit we earn during last weeks with 2 perfect iH&S that worked perfectly,but i look at BTC chart more precise and find out that maybe my iH&S #2 didn't work and we are in forming head phase,still.
During my precise look at chart i found this signs that shows me i can be right.Look at chart bellow:
1.Do you remember BTC old triangle that started before last dec?I draw it for you in chart bellow.
This scenario is too beautiful and ideal to become true,but have chance,lot chance to win.
2.We can exit this wedge in calm,with a sideway along the bullish wedge line(that almost broke 2 days ago but couldn't confirm it,yet) like chat bellow.
3.After we reach this bearish wedge line again,Price bounce to neckline and some how fail to break it and confirm IH&S.At this case BTC can drop from this wedge to the old bullish wedge(almost broken) and test it as a support and bounce from there to make right shoulder again.This kind of iH&S named Complex H&S that is a very rare kind of it.In this kind we have a 2 shoulders.like chart below
I open all possibilities with that iH&S but i didn't open the case that maybe this pattern fail and what happen if there isn't any iH&S in chart,at all.So i show you here.
Comment:
Are we gonna break this resistance?
Comment:
need to break this triangle and reach 8300 first,after that nothing can stop BTC to form right shoulder.
Comment:
Is this is a tiny inverted head and shoulder,here?we gonna bounce from this triangle by it?
Comment:
Forming right shoulder with mixing of this tiny iH&S and triangle?
Comment:
Update here
Like always, please like my work if you like it and leave me a comment bellow, to know what's in your head?
Thanks all of you for supports and kindness.
Best Regards
Peyman A