An interesting target for a head and shoulders pattern, from the 2020-2022 Bull/Bear market (and subsequent bottom at the end of 2022/beginning of 2023) for BTC.
Used the right shoulder top to neckline as target, instead of head top to neckline.
Predicted bottom quite closely, in hindsight.
Predicted weekly candle close bottoms nearly exactly.
Good to note in case of future use.
BTC BTCUSD
Used the right shoulder top to neckline as target, instead of head top to neckline.
Predicted bottom quite closely, in hindsight.
Predicted weekly candle close bottoms nearly exactly.
Good to note in case of future use.
BTC BTCUSDNote
**CORRECTION** Measured from head top to neckline.
But instead of then determining target from bottom of neckline from where it broke down (on the right)... it's measured from the right shoulder peak, down.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.