If such a huge H&S would confirm, the target is $5100 or lower!
It was also the initial target of my C main Elliott wave which was shortened by the bounce from $6400.
Also, the MACD bullish cross failed, making this scenario very likely!
From my point of view, I wouldn't buy now.
It was also the initial target of my C main Elliott wave which was shortened by the bounce from $6400.
Also, the MACD bullish cross failed, making this scenario very likely!
From my point of view, I wouldn't buy now.
Comment:
I must observe that after the fall we had yesterday and this morning, the market went pretty chaotical. Rapid, unpredictable ups and downs, plus a failed attempt of some whales to push the price up by liquidating shorts. Therefore the probability for any pattern or indicator to fail is very high. But these are things suggesting the bearish scenario, maybe even crash, is valid. Indecision means distrust, which can turn to panic very fast. And whales losing control is also something never seen; they didn't fail before in manipulating BTC price. This suggests that a lot of whales are out of the market already, and also confirms the market distrust.