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AlanSantana
Feb 28, 2022 3:09 PM

Bitcoin Inverse Head & Shoulders Pattern Long

BITSTAMP:BTCUSD240
Bitcoin / U.S. dollarBitstamp

Description

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Can we say that this is the most famous chart pattern of all?

We have the a complete inverse head & shoulders pattern (iH&S), what is left now is the final breakout.

This is a bullish pattern of course and the indicators support it.

The current candle closes in less than 1 hour and ideally we want to see it close above EMA100 ($39500) or higher if possible.

Even a close lower is still good if it happens above $38670 or EMA10.

It can just continue ranging though since prices remain below MA200.

Thank you for reading.

Namaste.

P.S. Looks like eBay is getting into crypto so this is good news.

Comment

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Looks like it is going straight up...

Thanks for all the kind comments and support, it is truly appreciated.
Trend AnalysisChart PatternsTechnical IndicatorsBTCBTCUSDBitcoin (Cryptocurrency)cryptoCryptocurrencyaltcoins
Comments
ItchieBonBon
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you nailed this to the dollar.
AlanSantana
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@significantSea97395, :D
UnknownUnicorn19016152
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Yeah!! And also a bearish H&S on USDT.D
AlanSantana
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@CryptoSoaP, They have an inverse correlation? USDT.D vs BTCUSD
UnknownUnicorn19016152
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@AlanSantana, yeah sometimes USDT.D looks like BTCUSD inverted chart. They converge and then they diverge.
AlanSantana
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@CryptoSoaP, In that case Bitcoin is going to grow a lot because USDT.D is ultra bearish.

AlanSantana
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@CryptoSoaP, See this:
UnknownUnicorn19016152
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@AlanSantana, yeah and im waiting for the DXY to have a blow off top or at least a top with a successively prolonged downtrend. This will be my "rally to 100k+ signal".
trytofeelpositive
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nice bro
totally agree with ur vision
main target even higher
AlanSantana
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@trytofeelpositive, I agree we can have higher targets.

Thanks for sharing.
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