BTC bull flag, falling wedge breaking up to test the 40/200 EMA.
I think the micro H&S of the more immediate time-frame, has completed, and we're now starting to create the right shoulder, of the more macro, Inverted H&S pattern.
Is the market bullish?
- No. The market is bullish when we go on a macro-trend bull run, like we did in 2017 when we go from 2k to 20k.
Is the market behaving bullish ATM?
- If the falling wedge doesn't break down, then we'll probably have a small bull run up... temporarily I believe, as we have not yet experienced capitulation.
I think we're running up to complete the inverted H&S pattern at the moment. So I have a long position, with alarms and stop losses setup, in case we decide to break down, and start testing the 8-6k levels. My goal with this position is a short term trade, as I believe the inverted H&S pattern will break down, and we'll not go on a massive bull run to the moon.
Simply sharing this idea, as I'm keeping track of my own view of the market
Good fortune with all your trades!
- For educational purposes only. Although you should not consider this "educating yourself" as I know little to nothing.
Is the market bullish?
- No. The market is bullish when we go on a macro-trend bull run, like we did in 2017 when we go from 2k to 20k.
Is the market behaving bullish ATM?
- If the falling wedge doesn't break down, then we'll probably have a small bull run up... temporarily I believe, as we have not yet experienced capitulation.
I think we're running up to complete the inverted H&S pattern at the moment. So I have a long position, with alarms and stop losses setup, in case we decide to break down, and start testing the 8-6k levels. My goal with this position is a short term trade, as I believe the inverted H&S pattern will break down, and we'll not go on a massive bull run to the moon.
Simply sharing this idea, as I'm keeping track of my own view of the market
Good fortune with all your trades!
- For educational purposes only. Although you should not consider this "educating yourself" as I know little to nothing.
Trade closed: target reached:
We broke through the top of the falling wedge. Let's see what other treasures await us at the other end.