DeFeye

DeFeye

I leave you with this pattern and a few major support levels... Check my profile for more details. ✌️

DeFeye

Here on the 1D I highlighted all the support and resistance areas that IMO are most relevant for the short-term.

DeFeye Updated 

Main thing here IMO is the Horizontal support at $46.5k I think if we break that we are likely to break the channel and are headed to 40k-37k however if we break the top our targets are the green circle lines.

DeFeye

Or maybe another "W"? Right shoulder peak target 48k then watch out for 46.5k if we complete the pattern to see if we finally break down or the Bulls draw a "W" and take us up to the neckline again.

DeFeye

Here you see what I mean by the title and why I call the low at $40k-$37k. The last time we completed the H&S pattern we had one low point before we went to the peak of the right shoulder, then completed the shoulder and went even lower which the current trendline that we are based on. This is one out of many possible scenarios, but my favorite one as for now....

DeFeye

Red circles are our bullish targets considering the bullish daily and weekly trendline (White bodies, Red Wicks) Giving us a low of about 40k-37k, we would have to hold in that area to continue our mid-term bullish trend. The green circles represent our Bullish targets with 57k being the decisive one representing the neckline of where the main dip came from on...

DeFeye

Let's see if we can find support around 47.5k or go down to the lowest support again.

DeFeye

We could already go towards Co platin of the H&S pattern which is building on the 1d and Weekly. If we can Co pleite the pattern and bounce around 40k-37k, we will the create a W pattern which could take us to a new ATH in spring/Summer. The same pattern took us to our previous ATH.