Inverse H&S patternðĨon BTC and S&P 500.
Friends, are you expect that BTC will make a pullback to 17k or pump to 30k? All of this scenarios are realy possible. But what is the most possible scenario?
Local pullback is expected in this idea few days ago. Also there you can find the best entry points for BTC using my free trading strategiesð
ðThe experienced traders know that weak BTC follow the stock market. The most famous index of stock market is S&P 500. You can see how similar this 2 charts. Except that S&P 500 already reach "the neck" and BTC is still close to "the head".
ðĐIn this case we can expect that if S&P 500 will follow the inverse H&S pattern so the BTC copy it too.
ðWhy the S&P 500 can reach the $4300-4500 in a month? A lot of earnings and guidences of US companies are confirmed that US economy not in the "recession". Almost all TECH giants have amazing rezults for Q2.
Also the $3700-3800 area was expected as a bottom because there is a lot of technical supports for the price (key levels, value areas etc.).
â The closest target for BTC is $28-30kðĨvalue area because this is a bottom of 1,5 year consolidation channel which become the huge resistance for BTC when it was broken down.
ðĨTraders, do you agree with this facts or you have something to add? Write your thoughts in the comment!
ðŧFriends, press the "like"ð button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
Local pullback is expected in this idea few days ago. Also there you can find the best entry points for BTC using my free trading strategiesð
ðThe experienced traders know that weak BTC follow the stock market. The most famous index of stock market is S&P 500. You can see how similar this 2 charts. Except that S&P 500 already reach "the neck" and BTC is still close to "the head".
ðĐIn this case we can expect that if S&P 500 will follow the inverse H&S pattern so the BTC copy it too.
ðWhy the S&P 500 can reach the $4300-4500 in a month? A lot of earnings and guidences of US companies are confirmed that US economy not in the "recession". Almost all TECH giants have amazing rezults for Q2.
Also the $3700-3800 area was expected as a bottom because there is a lot of technical supports for the price (key levels, value areas etc.).
â The closest target for BTC is $28-30kðĨvalue area because this is a bottom of 1,5 year consolidation channel which become the huge resistance for BTC when it was broken down.
ðĨTraders, do you agree with this facts or you have something to add? Write your thoughts in the comment!
ðŧFriends, press the "like"ð button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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