Bitcoin- The H&S will not pay off ( Just my opinion:) )

3 дек. 2021 г.

The more I look at Bitcoin's price action, the more bearish I become.
If I've learnt something trading for 20y is that things like "look, here is support, I will stay here all week for all to see, buy and MAKE MONEY" are in 99% of the cases traps.
Besides, I saw a lot of analyzes arguing an H&S, for us to speak of an H&S the price needs first to pass 60k.
Technically speaking we are in a range and the pressure is on the downside and, as I've mentioned before, a break under support is bearish.
Also, if we have this break, I don't think BTC will stop its descent at 53, again, it will be too obvious and considering that such a break would confirm a more than 2 weeks distribution, the drop should be aggressive.
I will stay with my short trades for the time being and only BtcUsd above 60k would make me rethink.