Hi everyone.
Looking 1W chart... I see an Inverted Shoulder-Head-Shoulder pattern. Left shoulder and the head is marked with pink up-arrows. Right now, the price is "closing" the head formation.
If right shoulder begins on few hours, the price could drop to $7,000 - $6,500 level, following the "Ghost Feed Line" to create the right shoulder peakr.
Finishing the Inverted SHS pattern, the price must fight to break the 1W downtrend resistance. But, if that historical downtrend is broken, the target will be the $13,850 level.
The target level is the same of 1M resistance.
Looking 1W chart... I see an Inverted Shoulder-Head-Shoulder pattern. Left shoulder and the head is marked with pink up-arrows. Right now, the price is "closing" the head formation.
If right shoulder begins on few hours, the price could drop to $7,000 - $6,500 level, following the "Ghost Feed Line" to create the right shoulder peakr.
Finishing the Inverted SHS pattern, the price must fight to break the 1W downtrend resistance. But, if that historical downtrend is broken, the target will be the $13,850 level.
The target level is the same of 1M resistance.