This is an inspiration post because I haven't posted about BTC in a while because of the correlations in other macro factors, but I was chatting with someone about the H&S that was drawn up and they were looking for the right shoulder still. To my unbeknowst I didn't see it was a weekly chart and that's why it didn't match up with my chart.
so here we have it...
On the daily here you can see the nice wedge that this has come out of and with the recent short rally managed to form the right shoulder on the downside of the wedge.
Please ignore the red lined for accumulation zones but if this is true and plays out, following the general rules for a H&S if this plays out this is possibly looking to go somewhere to the 23k range.
Only time will tell.
look at bonds, stocks and the almighty dollar and where that is headed
BTC is just a lot faster at everything than everything else:)
That's all folks
so here we have it...
On the daily here you can see the nice wedge that this has come out of and with the recent short rally managed to form the right shoulder on the downside of the wedge.
Please ignore the red lined for accumulation zones but if this is true and plays out, following the general rules for a H&S if this plays out this is possibly looking to go somewhere to the 23k range.
Only time will tell.
look at bonds, stocks and the almighty dollar and where that is headed
BTC is just a lot faster at everything than everything else:)
That's all folks
Comment:
another little drop incoming
