Happy Thirsty Thursday, Traders!
Hope you find value from this post.
If you did, please give this post a LIKE and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin could still be forming an Inverse Head & Shoulder chart pattern IF it finds support at $42K, or the Green Horizontal Line @ $40,680 and the White Extended Trend Line.
The Green Horizontal Line has been a level where multiple support and resistances have occurred since last year in January 2021.
The confirmation of a completed Inverse Head & Shoulder is when price breaks out to the upside from its neckline (Red Resistance Trend Line).
If Bitcoin breaks out to the upside from the neckline (white trend line), the measured move price target is still $58K (refer to previous post).
Bitcoin breaking the $42K and closing below that price will also break a local market structure.
Further dipping could bring Bitcoin back down to $38.7K and even down to $36.6K.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, please give this post a LIKE and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin could still be forming an Inverse Head & Shoulder chart pattern IF it finds support at $42K, or the Green Horizontal Line @ $40,680 and the White Extended Trend Line.
The Green Horizontal Line has been a level where multiple support and resistances have occurred since last year in January 2021.
The confirmation of a completed Inverse Head & Shoulder is when price breaks out to the upside from its neckline (Red Resistance Trend Line).
If Bitcoin breaks out to the upside from the neckline (white trend line), the measured move price target is still $58K (refer to previous post).
Bitcoin breaking the $42K and closing below that price will also break a local market structure.
Further dipping could bring Bitcoin back down to $38.7K and even down to $36.6K.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
