I received a comment on my last post on BCPT with suggestion of a potential head and shoulders. It actually looks to be true, something I over looked. You can see that on the right shoulder it perfectly hits the previous trend line. First it broke through the trend line then bounced back up only to be rejected by previous support. That is textbook for a head and shoulders pattern. This is bad sign for the price action and indicates a loss of momentum in the previous trend. Unless it gets back above the trend could see it break down. Shoutout to @karma1888 for pointing it out.
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If we are not rejected by the purple trend line and manage to get above it then that would be good sign.
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H&S Traget Updates
