Here are more thoughts after having a second look on the big inverse H&S:
- possible range of this formation could be 21k +
- dark blue up-trend line (the one acted as support at the beginning of today's candle at 8650) is not just local, it goes all the way down with more "false break downs" like the last shoulder (you can zoom out the chart above to see this)
- the tough part of the way up seems to be the 11900-13000 MOFU zone
- we can still retest the broken downtrend line i.e. around 75xx yet rather only after breaking down under the blue uptrend line again
- possible range of this formation could be 21k +
- dark blue up-trend line (the one acted as support at the beginning of today's candle at 8650) is not just local, it goes all the way down with more "false break downs" like the last shoulder (you can zoom out the chart above to see this)
- the tough part of the way up seems to be the 11900-13000 MOFU zone
- we can still retest the broken downtrend line i.e. around 75xx yet rather only after breaking down under the blue uptrend line again
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I'm also wondering if the condition of USD itself even if not continuously correlated can be a source of impulses influencing BTCUSD.
I.e. strengthen of USD (maybe worth looking directly at USDCNY or USDRUB) in some key points could lead to some big buys of USDBTC
I.e. strengthen of USD (maybe worth looking directly at USDCNY or USDRUB) in some key points could lead to some big buys of USDBTC
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forgot to paste a chart
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I'd see 10950 as a mid term target which could complete the head of another smaller inverse H&S started with left shoulder on 20 Feb at ~11900 (red dashed neckline)
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