12h time frame
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We have talked about many potential top structures about Bitcoin, such as Head and Shoulders(ref.1), Butterfly(ref.2) and Diamond structure(ref.3). All analysis point out that Bitcoin is creating a huge top structure before next bull. This is also the last chance to catch a potential crazy dump in this bear period. If we take liquidation hunting into consideration, 30700~31000 is the excellent entry to open short, which has the best risk to reward ration over 8. If Bitcoin start dumping from that zone, targets as below.
TP1: 25000
TP2: 20300
TP3: 18000
Also, 17000~18000 is the expected bottom before bull.
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ref.1 Head and Shoulders structure
ref.2 Harmonic pattern
ref.3 Diamond structure
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We have talked about many potential top structures about Bitcoin, such as Head and Shoulders(ref.1), Butterfly(ref.2) and Diamond structure(ref.3). All analysis point out that Bitcoin is creating a huge top structure before next bull. This is also the last chance to catch a potential crazy dump in this bear period. If we take liquidation hunting into consideration, 30700~31000 is the excellent entry to open short, which has the best risk to reward ration over 8. If Bitcoin start dumping from that zone, targets as below.
TP1: 25000
TP2: 20300
TP3: 18000
Also, 17000~18000 is the expected bottom before bull.
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ref.1 Head and Shoulders structure
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