BTC inverse H&S? Failed H&S? Next resistance?
Updated
Good morning, here's and idea I had. I have seen BTC form what some call an inverse head and shoulders, although, many would disagree. I've leaned bearish on BTC on a past recent chart, but in this particular one i will lean bullish and play devils advocate. The fundamentals for crypto have been fairly good recently. Although, we wont see 20k soon, yet, 6-7k anytime soon, we could potentially see the high of $4500 - $5000 (and that's me high on hopium)
Technicals have shown both bearish and bullish signals. I personally do not believe we will break the line resistance that formed from the 6k drop. Another pattern i see in the long-term scale if you zoom out, is a falling wedge.
Falling wedges typically break upwards, but before we break upwards we will revisit 3k - 3.4k
According to this falling wedge we possibly, just might, experience new lows from 2.8k - 1.4k
Take my info with a grain of salt, have an amazing day, trade safe!
Technicals have shown both bearish and bullish signals. I personally do not believe we will break the line resistance that formed from the 6k drop. Another pattern i see in the long-term scale if you zoom out, is a falling wedge.
Falling wedges typically break upwards, but before we break upwards we will revisit 3k - 3.4k
According to this falling wedge we possibly, just might, experience new lows from 2.8k - 1.4k
Take my info with a grain of salt, have an amazing day, trade safe!
Trade active
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