This Analysis is to confirm the H & S analysis bought forward by jpbrown1023. Shout out to him for bringing this plausible opportunity to my attention. His/Her link down below.
As you can see within the chart's text bubbles, there seems to be a number of factors that are favoring the advancement of the right shoulder.
However, BTC still has strong market influence during its declines. Thus, most important, if BTC/USD(T) does not fall below its trend-line at $7.0k-$6.8k region, then BTC/USD(T) should coincidentally advance off the trend-line around the same time period BCC/BTC is expected to have its volume expansion to break neck-line.
So far, this H&S seems very likely, however not confirmed until neck-line is broken with a convincing amount of volume expansion. Thus, lets continue to monitor for positive indicators and hope for the best.
Any likes & comments are welcomed.
Happy trading & Cheers!
As you can see within the chart's text bubbles, there seems to be a number of factors that are favoring the advancement of the right shoulder.
However, BTC still has strong market influence during its declines. Thus, most important, if BTC/USD(T) does not fall below its trend-line at $7.0k-$6.8k region, then BTC/USD(T) should coincidentally advance off the trend-line around the same time period BCC/BTC is expected to have its volume expansion to break neck-line.
So far, this H&S seems very likely, however not confirmed until neck-line is broken with a convincing amount of volume expansion. Thus, lets continue to monitor for positive indicators and hope for the best.
Any likes & comments are welcomed.
Happy trading & Cheers!
