Maddie

Head and Shouders Pattern Formed On Huobi Again!

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
Better sooner than later!
BTC             showed us again a head and shouder formation!
This will take us back to at least 3615 because there we have strong reactance from the last weeks.
It's time to go short to for a few hours and wacht carefully if we break 3615.
If that happen the target at least 3600 or maybe even lower.

Our target is calculated just like the cup and handle pattern.
Measure the distance between the head and the neckline, and that is approximately the distance that the price will move after it breaks the neckline.
3720-3630=85
3650-80=3570 (580USD)

I hope this helped!
If you like my chart or my description, don't forget to like :)
+1, went short at 3725 :)
+1 Reply
Maddie HerSerenity
Hope you can buy in for a lower price the next few days :)
Reply
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