#BidaoUSD Could Double From This Inverse Head and Shoulders!
What is Inverse Head And Shoulders?
An inverse head and shoulders, also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
What Does an Inverse Head And Shoulders Tell You?
Investors typically enter into a long position when the price rises above the resistance of the neckline. The first and third trough are considered shoulders and the second peak forms the head. A move above the resistance, also known as the neckline, is used as a signal of a sharp move higher. Many traders watch for a large spike in volume to confirm the validity of the breakout. This pattern is the opposite of the popular head and shoulders pattern but is used to predict shifts in a downtrend rather than an uptrend.
Source: www.investopedia.com...headandshoulders.asp
What is Bidao?
BiDao is a new blockchain system that creates a trustless stablecoin and a new decentralized financial tool that allows leveraged trading in a trustless setup... In the beginning, BiDao will be completely integrated with the Binance Blockchain and BNB will be used as the collateral.
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An inverse head and shoulders, also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
What Does an Inverse Head And Shoulders Tell You?
Investors typically enter into a long position when the price rises above the resistance of the neckline. The first and third trough are considered shoulders and the second peak forms the head. A move above the resistance, also known as the neckline, is used as a signal of a sharp move higher. Many traders watch for a large spike in volume to confirm the validity of the breakout. This pattern is the opposite of the popular head and shoulders pattern but is used to predict shifts in a downtrend rather than an uptrend.
Source: www.investopedia.com...headandshoulders.asp
What is Bidao?
BiDao is a new blockchain system that creates a trustless stablecoin and a new decentralized financial tool that allows leveraged trading in a trustless setup... In the beginning, BiDao will be completely integrated with the Binance Blockchain and BNB will be used as the collateral.
- After Bidao's ICO, The coin quickly 5xed, but since has come back down to 1 Cent Level
- Inverse Head and Shoulders Could Bring Prices Back Over 2 Cents
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💠Check Out The Crypto Collective For More Signals & Copy Our Long Term Portfolios💠
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