Hi mates,
A clear look at a linear chart, there is a prospective Inverse H&S pattern signal, after the right shoulder price dropped below sub $6200, while the left shoulder price make a
U-turn @ $6244.
But we can't call this an Inverse H&S yet until, until price hit $6800.
Likewise, the chart posses all the characteristics of a good Inverse H&S, we just need to break the neckline for pattern confirmation
One thing that will make this Inverse H&S interesting is the slant neckline after $6829, because patterns with down-sloping necklines perform better.
Also, the downward volume trend will bring about best post break out performance.
If Inverse H&S gets confirmed, BTC may rise back $7800, but remember we need to get $6800 before setting our eyes on the Inverse H&S target.
Good luck!
A clear look at a linear chart, there is a prospective Inverse H&S pattern signal, after the right shoulder price dropped below sub $6200, while the left shoulder price make a
U-turn @ $6244.
But we can't call this an Inverse H&S yet until, until price hit $6800.
Likewise, the chart posses all the characteristics of a good Inverse H&S, we just need to break the neckline for pattern confirmation
One thing that will make this Inverse H&S interesting is the slant neckline after $6829, because patterns with down-sloping necklines perform better.
Also, the downward volume trend will bring about best post break out performance.
If Inverse H&S gets confirmed, BTC may rise back $7800, but remember we need to get $6800 before setting our eyes on the Inverse H&S target.
Good luck!
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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.
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.