Hello traders,
Here's a daily time-frame chart of Bitcoin against US Dollar, and as you can see the right shoulder is slowly being formed of the H/S pattern that was covered on last analysis we posted.
We are currently on an area of liquidity located between 8100 and 8200 which I'd like to call it a no mans land, because as you can see we've had multiple spike rejections from this level. It is also a crucial level to take into consideration because it will validate or invalidate the H/S pattern, we could see few spikes to around 8350 - 8400 in the next few days before melting and fulfilling the pattern. However like I mentioned the H/S can be very easily invalidated if we anticipate a clean break and close above the stated levels.
For detailed targets, take a look at our prior analysis as I cover the H/S with all the targets and key levels.
Stay tuned to our telegram channel for updates.
Here's a daily time-frame chart of Bitcoin against US Dollar, and as you can see the right shoulder is slowly being formed of the H/S pattern that was covered on last analysis we posted.
We are currently on an area of liquidity located between 8100 and 8200 which I'd like to call it a no mans land, because as you can see we've had multiple spike rejections from this level. It is also a crucial level to take into consideration because it will validate or invalidate the H/S pattern, we could see few spikes to around 8350 - 8400 in the next few days before melting and fulfilling the pattern. However like I mentioned the H/S can be very easily invalidated if we anticipate a clean break and close above the stated levels.
For detailed targets, take a look at our prior analysis as I cover the H/S with all the targets and key levels.
Stay tuned to our telegram channel for updates.
