Head & Shoulders Explained
The Head & Shoulders Pattern & Inverse Head & Shoulders Patterns are quite common on Bitcoin and have had great results on the higher timeframe charts.
Here are the main characteristics:
• VOLUME MIMICS PATTERN
• 3 PEAKS, LEFT & RIGHT SIMILAR HEIGHT
• TRIANGULAR IN APPEARANCE
• FOUND AFTER UPTREND
• HIGH SUCCESS RATE
• CAN BE...
This idea may be a bit confusing at first to beginners but if you follow with me below I will explain to you the combination of ideas I am factoring into this current plan for Bitcoin based on historic price action. Use the price scales on the bottom & top of the chart to zoom out to get a better view.
In August 2020 Bitcoin formed a ugly version of a Head &...