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RIF / TetherUS

RIFUSDT 1H Chart:Complex Head and Shoulder

By lilmoris
Updated
Head and Shoulder with 2 left Shoulders and 2 Right Shoulders.The neckline is already broken and we had a pullback (Retest of the neckline).According to Bulkowski's book (Encyclolpedia of Chart Patterns),we should have an average drop of around 20%.I considered,that we are in bull market.But I also measured the target normally.1st is from the highest low of the Head to the neckline.2nd Target from the Highest high to the neckline.The first drop brings us to approximately the 20% drop from Bulkowski's Statistics.After the bottom is reached,we should have a rise from approximately 48% ,still according to Bulkowski.Concerning the volume,the 2nd. left shoulder has the highest,then the Head and finally the right Shoulder has the smallest volume.
All the best.
Note
If we do have a drop of 20%,and then afterwards a rise of 48%,we will reach around 0,2266.
Note
Bitcoin has gone down and now sideways.I think we have reached the bottom here.We dropped just in the middle of my two targets,measured from the highest low and from the highest high of the Head.We should move appr. 48% up.This is approx. 0.2015 I think.I corresponds to the 4H Resistance.
Note
48% rise brings us to 0.2102
Fundamental Analysis
lilmoris

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