Head and shoulder plus rising wedge: Probability for correction
So there's a H&S-ish looking pattern going on here. However, I am not 100% sure, as this looks a bit distorted.
Then there's also a rising wedge at the same time, which tells a higher probability for downside as well.
But as the last times BTC just wonderfully ignored any TA, I am not sure myself this time.
BTC maybe wants to make it look as if an imminent correction would occur, just to go berserk and pump to 12k.
So, I am not trading this pattern here, just observing.
The fearless among you could try to trade this pattern, by opening very slight shorts, with tight SL's at maximum 8450.
Good luck and let's see what BTC is up to :)
Then there's also a rising wedge at the same time, which tells a higher probability for downside as well.
But as the last times BTC just wonderfully ignored any TA, I am not sure myself this time.
BTC maybe wants to make it look as if an imminent correction would occur, just to go berserk and pump to 12k.
So, I am not trading this pattern here, just observing.
The fearless among you could try to trade this pattern, by opening very slight shorts, with tight SL's at maximum 8450.
Good luck and let's see what BTC is up to :)
Comment:
And this is exactly the reason why I was unsure about BTC's supposed weakness XD and rightfully too afraid to short this beast.
Comment:
So yes, this trade is DOA hehe. I had this feeling that BTC is playing us again, making it look weak, setting up TWO bearish signals, and then totally ignoring them and pumping LOL.
GOTTA LOVE BTC !!!! :)
GOTTA LOVE BTC !!!! :)