Hey all!
Looks like we have a small inverse H&S here.. but it's kind of ambiguous as it could also be a normal head and shoulders with that first shoulder wave.
But -we have bullish divergence on the sRSI, and RSI (4HR)
Not too much strength behind it, but it's not a risky trade IMO.
My play here:
Wait for BTC to cross the 1:1 Gann Fan and play the break out, set a super tight SL and TP at around $9.3 - $9.4 (determine a more specific TP once it confirms).
If it is a bearish Head and Shoulders -wait for price to drop below the 2:1 and again set a super tight stop loss.
What do you guys think?
Thank you for looking at my idea!
Looks like we have a small inverse H&S here.. but it's kind of ambiguous as it could also be a normal head and shoulders with that first shoulder wave.
But -we have bullish divergence on the sRSI, and RSI (4HR)
Not too much strength behind it, but it's not a risky trade IMO.
My play here:
Wait for BTC to cross the 1:1 Gann Fan and play the break out, set a super tight SL and TP at around $9.3 - $9.4 (determine a more specific TP once it confirms).
If it is a bearish Head and Shoulders -wait for price to drop below the 2:1 and again set a super tight stop loss.
What do you guys think?
Thank you for looking at my idea!