Avicenna_omar

BTC/USD: Head & shoulders pattern confirmed?

Long
BITFINEX:BTCUSD   Bitcoin
If the pattern confirms to be a H&S pattern, the right shoulder will be followed by Elliot Impulse waves. If the right shoulder is completed, I expect 17k$ to be the next target for bitcoin.
If the pattern doesn't turn out to be a H&S pattern, it's likely a lower low will occur (~3k$). I will make a new TA if it turns out to generate a new low.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.