Watch For This Bear Fake-out
Updated
Hello, thanks for checking out my idea!
Most of the info is on the chart. We don't need a bear fake-out to fulfill this pattern, but as we've all noticed BTC likes to start with the opposite thing it's actually planning to do. With that in mind I think this analysis fits the picture we're looking at. I personally won't be trying to time the bottom of the right shoulder since we could just keep going down. I'd rather see it turn back around and start breaking some major short-term resistances first. The neckline of this chart also isn't perfect, but you don't need a perfect neckline. It should at least be recognized.
Remember take this idea with a grain of salt! Make your own judgements and keep your money safe.
Most of the info is on the chart. We don't need a bear fake-out to fulfill this pattern, but as we've all noticed BTC likes to start with the opposite thing it's actually planning to do. With that in mind I think this analysis fits the picture we're looking at. I personally won't be trying to time the bottom of the right shoulder since we could just keep going down. I'd rather see it turn back around and start breaking some major short-term resistances first. The neckline of this chart also isn't perfect, but you don't need a perfect neckline. It should at least be recognized.
Remember take this idea with a grain of salt! Make your own judgements and keep your money safe.
Note
I wonder if these Inverse H&S's will lag behind BTC's breakout?
Note
Click the chart for the full analysis with comparisons of multiple alt coins all within similar long-term patterns.Note
lmao the profit target should be $9200 + 2600 = $11800. Oops.
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