Alice, Invers H&S + potential algo target at $107, 74xthis technique is experimental. since Alice doesn't have data going back the lows of 2020 I've pulled the fib from the from the all time highs and set the lows of price action to be in line with the 0.707 fib. this should give a conservative algo target if it runs with the rest of the market.
disregarding the fat finger wick, there's also a inverse head and shoulders target that lines up in the same area as the order block and bear pocket.
no idea if the algo target will play out, but if it does I'll defiantly be adding this tequnique to my arsenal.
See linked BTC chart for why my charts are so bull.
The Trade:
Preferred Entry: $1.07 or a 0.168 retrace of this impulse wave (if we get one)
Ape Entry: $1.46
Stop: $1.00
Resistance: $6.78 - order block + bear golden pocket.
Inverse H&S Target: $8.80
Potential Algo Target :$107
D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES.
Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS.
This is not financial advice. These are just my observations.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
