BTC is in an inverse shoulder - head - shoulder pattern. If BTC crosses the neckline to the top a rise to ~ 11,300$ is possible.
At this point we find the fib retracement 38.2% and a crossing point from two trend lines: declining trend from the pattern §3 descending peaks" and the long term ascending trend line.
If BTC fails to cross the neckline a new test on the lower swing trend line (~ 7.400$) is probable.
At this point we find the fib retracement 38.2% and a crossing point from two trend lines: declining trend from the pattern §3 descending peaks" and the long term ascending trend line.
If BTC fails to cross the neckline a new test on the lower swing trend line (~ 7.400$) is probable.
Trade active:
BTC now in a symmetrical triangle. Breaks up, then the scenario as mentioned above stays alive. Breaks down, then BTC is heading to lower levels.
BTC now in a symmetrical triangle. Breaks up, then the scenario as mentioned above stays alive. Breaks down, then BTC is heading to lower levels.
Trade closed: stop reached