TradingView
Crypto_Fro
Nov 13, 2022 11:45 PM

ETH/USD Head and Shoulders Market Reversal Pattern (Weekly) Short

BITFINEX:BTCUSD1W
Bitcoin / DollarBitfinex

Description

⋅
BTC/USD Head and Shoulders Market Reversal Pattern playing out on the Weekly.

Head: 69K Q4 2021
Shoulder: 24.2K
Neckline: 18.9K

I expect a lot of market participants took advantage of the Q2 2022 bearish rally to hedge/short BTC.
Neckline has already been broken and I expect the downtrend to persist through 2023.
Chart PatternsHead and ShouldersDouble Top or Bottom
More