To me it's kinda obvious what's next: this massive inverse H&S has been in formation since Oct 2019 and would take us to at least $17k. We also need to catch up with the parabolic trend (around $30k atm) to repeat 2016/17, which I think we will by the end of the year, and this is the beginning of that move. Thoughts?
PS' There is no way to know where the right shoulder will bottom, so don't wait too long. In fact, we could get a very small shoulder, but time will tell.
PS' There is no way to know where the right shoulder will bottom, so don't wait too long. In fact, we could get a very small shoulder, but time will tell.
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So the pullback is in effect, I already opened half a position at 9k, will double that close to 8k is possible. The head of this H&S was the coronacrash, which strongly supports the market psychology behind this pattern.Related publications
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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.