We have such a clear trend line (Black) with a left shoulder, head, and now a bounce off the same line to start a possible right shoulder.
The pink arc is another very clean pattern to watch with many clear touch points.
We will soon get to where the two arcs collide at Decision Zone 1. Keep in mind the right shoulder doesn't need to be an exact mirror of the left shoulder like I drew it.
The exact location of "Decision Zone 1" can move depending on how the right shoulder shapes up.
But if that pink arc about to take us up breaks down, expect a drop back to the black support line, a completion of the right shoulder, and the big Decision Zone 2.
If price then breaks significantly below the black support line... price will drop fast. Everyone will see the H&S by then and expect $19-20K.
If it bounces up from the black support line after forming a right shoulder, that is insanely bullish. We will likely see $80K and higher by the summer, possibly much higher.
Good luck, like this if you were entertained by it, and don't forget to share your opinion in the comments and subscribe!
Enjoy.
The pink arc is another very clean pattern to watch with many clear touch points.
We will soon get to where the two arcs collide at Decision Zone 1. Keep in mind the right shoulder doesn't need to be an exact mirror of the left shoulder like I drew it.
The exact location of "Decision Zone 1" can move depending on how the right shoulder shapes up.
But if that pink arc about to take us up breaks down, expect a drop back to the black support line, a completion of the right shoulder, and the big Decision Zone 2.
If price then breaks significantly below the black support line... price will drop fast. Everyone will see the H&S by then and expect $19-20K.
If it bounces up from the black support line after forming a right shoulder, that is insanely bullish. We will likely see $80K and higher by the summer, possibly much higher.
Good luck, like this if you were entertained by it, and don't forget to share your opinion in the comments and subscribe!
Enjoy.