We have a complex inverse Head and Shoulders here. The neckline is clearly defined as it has been respected 5 times by the market. The largest volume is seen in the left shoulder, which further validates this pattern. Should this neckline break, my entry will be 585, with a stop loss under 564. The measured move for this pattern is a target price of 662.
Feel...
I keep my plans simple. Chart patterns are my most reliable trading strategy. I consult the pattern first, then look at other indicators to see if they support my opinion of which direction it will breakout. In bitcoin's case, average volume is slowly decreasing. This is typical of patterns as price action narrows and consolidates. "The calm before the storm."...
