Bad BUT Beautiful Bitcoin Pattern
A Post Analysis
The BAD Part
Breaking down is always a bad news in the crypto world but it is bound to happen. A Head and Shoulder Pattern formed and the tendency of breaking down is high and no one will want their investment to go down. As of writing, bitcoin actually broke the neckline and it really went downwards.
The Beautiful Part
It is BEAUTIFUL because the head and shoulder pattern just played out after breaking the neckline and traders can profit from shorting this pattern. The expected target would be around the 22.65K mark with previous support line at the 22.6K. It is possible to see bitcoin going down more if it is not able to hold the support and retest the 21.8K mark before going down even further.
Volumes is low at the moment, so be prepare traders. Set stop losses for every trade to save ourself if ever Bitcoin surprises us and pull back up and retest the neckline again at 23.35K mark
Note: Not a financial adviser, do your own homework before taking part in any trading.
The BAD Part
Breaking down is always a bad news in the crypto world but it is bound to happen. A Head and Shoulder Pattern formed and the tendency of breaking down is high and no one will want their investment to go down. As of writing, bitcoin actually broke the neckline and it really went downwards.
The Beautiful Part
It is BEAUTIFUL because the head and shoulder pattern just played out after breaking the neckline and traders can profit from shorting this pattern. The expected target would be around the 22.65K mark with previous support line at the 22.6K. It is possible to see bitcoin going down more if it is not able to hold the support and retest the 21.8K mark before going down even further.
Volumes is low at the moment, so be prepare traders. Set stop losses for every trade to save ourself if ever Bitcoin surprises us and pull back up and retest the neckline again at 23.35K mark
Note: Not a financial adviser, do your own homework before taking part in any trading.
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