IMX Head & Shoulders !
Is the Active Head and Shoulders Pattern Forming?
An intriguing yet risky topic.
Intriguing because we have formed a head and shoulders pattern in a semi-bullish market. If Bitcoin, with its high dominance, corrects, our head and shoulders pattern could activate, with the first target being the ($1.21 - $1.06) range and then the final target being $0.80. This could be dangerous for those holding this currency.
All of this could happen if we see a daily timeframe candle close below the $1.64 range and wait for a pullback or confirmation candle.
Are we going back to crypto hibernation? What do you think?
This is just an analysis and not financial advice at all.
This may not happen and the complete opposite could take shape. I'm just sharing something intriguing with you.
An intriguing yet risky topic.
Intriguing because we have formed a head and shoulders pattern in a semi-bullish market. If Bitcoin, with its high dominance, corrects, our head and shoulders pattern could activate, with the first target being the ($1.21 - $1.06) range and then the final target being $0.80. This could be dangerous for those holding this currency.
All of this could happen if we see a daily timeframe candle close below the $1.64 range and wait for a pullback or confirmation candle.
Are we going back to crypto hibernation? What do you think?
This is just an analysis and not financial advice at all.
This may not happen and the complete opposite could take shape. I'm just sharing something intriguing with you.
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