BTCUSD Bullish, Cup and Shoulders
We can see a cup and shoulders forming here much more than these calls for H&S, either way both chart formations signal for a bull run.
The 50ma (yellow) crossed under the 100 (green) which told us it was going bearish while the handle formed.
The 50ma (yellow) crossed under the 100 (green) which told us it was going bearish while the handle formed.
Note
On the 4 hour the 50 ma crossed over the 200, (golden cross) this signaled a buy for us, as it's a bullish indicator, however we can see on the rsi at the time was over bought. Note
We can still see a bears take countrol watch what happens to the 200 (dark blue) and 50 ma on the daily.Trade active
For those looking for short term plays: Note
Retrace to 10300-400 imo, Watch out for heavy resistance at 12-12.5k
Note
Reentered at 10400, going long, this is looking very good
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.