The BTC/USD 3-hour chart suggests a potential inverted head and shoulders pattern, indicating a possible bullish reversal.
Conversely, the daily chart hints at a head and shoulders pattern, suggesting a potential bearish trend. This contradiction creates uncertainty.
The presence of both an inverted head and shoulders (bullish) on the 3-hour chart and a head and shoulders (bearish) on the daily chart creates ambiguity. This is a classic example of a confluence issue in technical analysis.
The inverted head and shoulders could be a fakeout, a deceptive pattern that lures investors into buying before reversing course.
The market might be consolidating before a more definitive breakout in either direction.
Conversely, the daily chart hints at a head and shoulders pattern, suggesting a potential bearish trend. This contradiction creates uncertainty.
The presence of both an inverted head and shoulders (bullish) on the 3-hour chart and a head and shoulders (bearish) on the daily chart creates ambiguity. This is a classic example of a confluence issue in technical analysis.
The inverted head and shoulders could be a fakeout, a deceptive pattern that lures investors into buying before reversing course.
The market might be consolidating before a more definitive breakout in either direction.
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As long as btc can hold the 200 ema it looks probable.Trade active
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Not a bad R:R. 69k is strong resistance but if anything can break it bitcoin can.Note
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Lots of resistance on the way. I’m better off with no stops these days.Note
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Nice set up overall.Note
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Pennant formed within the larger trend.Trade active
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Here is the original set up.Note
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Classic fake out to shake out the over leveraged tradersTrade active
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How many people shorted this? Raise your hand.Note
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Sideways for now.Trade active
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Let’s see how this small pennant reacts to a break out.Note
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Still on track for new ATH. Never in a straight line.Note
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Never lose sight never use too much leverageNote
USDT: 0xd3787d843Cf915E5475119459B34b6429827c297
Disclaimer
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USDT: 0xd3787d843Cf915E5475119459B34b6429827c297
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.