BTC (bitcoin) price analysis - VERY IMPORTANT UPDATE

in #cryptocurrency7 years ago

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Very important condition for H&S pattern is a volume increasing at the breaking point of the neck line. For now this breaking point is at 8080$, which means that if BTC pass through that neck line with very big volumes then be careful and update your BTC stoploss, because the current H&S pattern's target is lower than 7k$.

Also I've decided to write about H&S on H12 TF is because one of the condition is also taking place: "Volumes from left shoulders till Head is decreasing". Check on the graph what we have.

This H&S pattern is a bit crooked which tells that there is no guarantee that it will work. But anyway I just want to warn you, because such H&S patterns are dropping the price too down. DONT FORGET ABOUT YOUR STOPLOSS!
And here is an example of H&S from internet.

The information provided by @arjunsingh is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs.

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very good information of which platform you took,
for the moment I rely on tradingviews.com, as I see this, all agree that the trend is downward.

good post

Thanks @telckzb I'll try my best