Is bitcoin painting a Head & Shoulders pattern ?

Hello everyone,

nothing serious here. Not even a "real" technical analysis but a bunch of speculation, because TA doesn´t work anyways :D

I think that Bitcoin is currently forming a Head & Shoulders pattern on 4h and we can see a further correction.
Very offten a bull trap happens after such formation before the real sell off starts so this chart is just for paper trading / tracking of such situation.

Lets wait and see how this will play out in upcoming days.

Do not hesitate to leave a comment what you think is comming next or what are your thoughts about current H&S pattern formation.


ChaChain
-------------
Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.

KEYWORDS
stellar , lumens, xlm , trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond technical analysis

Trade active:

soon buy opportunity

Trade closed: target reached

Comment:

So far a healthy 50% retracement. RSI reseted well, weak hands shaken.

Comment:

Lot of shorts have been closed in this trap drop

Trade closed: target reached:

Comment:

Lot of shorts closed, moon mission restored

Trade closed manually