Deconstruction of Head and Shoulders Pattern.
VOLUME:
-Not Always but volume on the left shoulder should be higher than during the advance of the head. Thus decrease in volume and the new high of the head should serve as a warning. The other warning is when volume increases during the decline from the head then decreases during the advance of the right shoulder. Finally, volume should increase during the decline of the right shoulder.
NECKLINE:
-The slope of the neckline will affect the pattern's degree of bearishness—a downward slope is more bearish than an upward slope
We also can see a ABC correction going on.
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The next few days will be very decisive for BTC
We may break the 16.7k area and go to the 1,618 fib extension( I would be surprised if this happens) or we can follow the HnS pattern and go dip to the 8k. Either should be a good thing!
At 1.618 we can enjoy some profits or we can put a stop order and reload at 8k.
Stay tuned!
VOLUME:
-Not Always but volume on the left shoulder should be higher than during the advance of the head. Thus decrease in volume and the new high of the head should serve as a warning. The other warning is when volume increases during the decline from the head then decreases during the advance of the right shoulder. Finally, volume should increase during the decline of the right shoulder.
NECKLINE:
-The slope of the neckline will affect the pattern's degree of bearishness—a downward slope is more bearish than an upward slope
We also can see a ABC correction going on.
-------------------------------------------------
The next few days will be very decisive for BTC
We may break the 16.7k area and go to the 1,618 fib extension( I would be surprised if this happens) or we can follow the HnS pattern and go dip to the 8k. Either should be a good thing!
At 1.618 we can enjoy some profits or we can put a stop order and reload at 8k.
Stay tuned!
Comment:
So far so good, just as expected!
pay attention at 14,2k resistance
pay attention at 14,2k resistance
Comment:
heading to 12k!
Comment:
Comment:
14 managed to hold the price very well
Comment:
14k*
Trade active:
target 11k
next sup zone is 14K usd.