Head & Shoulders pattern forming:
- If price drops to $5,900, the H&S pattern
will be complete indicating further decline.
- Next solid line of support is at $5,500 level.
- Proshares ETF decision on August 23rd will
most likely be declined. If so, expect market
to follow.
Overall, the market is stable, but likely to see
further decline in the next week. The bulls will
be nicely positioned for a big rally in September,
as Alts will be oversold, and up to 95%
discounted from ATHs (All Time Highs). Amazing
buying opportunities!
- If price drops to $5,900, the H&S pattern
will be complete indicating further decline.
- Next solid line of support is at $5,500 level.
- Proshares ETF decision on August 23rd will
most likely be declined. If so, expect market
to follow.
Overall, the market is stable, but likely to see
further decline in the next week. The bulls will
be nicely positioned for a big rally in September,
as Alts will be oversold, and up to 95%
discounted from ATHs (All Time Highs). Amazing
buying opportunities!
Comment:
The complete H&S would be at $6,092, not $5,900. I had to adjust the indicator a bit.