Bitcoin: Head and Shoulders to 2900?
There is a possible h&s structure forming. I would look for signs of reversal below the red horizontal line for entry which will finally form the right shoulder and a break in neckline will confirm. This structure is invalidated should the price surpass the red line.
Although this structure determines that the target is 2900, I believe that this movement could fuel a further fall in price, possibly to the mid-low 2xxx level.
Any input on the comments below is appreciated. Thanks for reading.
Although this structure determines that the target is 2900, I believe that this movement could fuel a further fall in price, possibly to the mid-low 2xxx level.
Any input on the comments below is appreciated. Thanks for reading.
Note
Looks like it might have gotten rejected at 3800.Note
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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.