As the graph shows, a potential bullish Head and Shoulders pattern is almost formed. Once it forms, and BTC breaks the neckline:
1️⃣ A small drop might be expected, as in many head and shoulders patterns
2️⃣ Prices will follow an uptrend to ~$38K which is our target prices zone 🔥
The pattern is validated by:
1️⃣ The Volume : it is ~equal on the two shoulders, ideally the right shoulder should have a slightly lower volume.
2️⃣ Symmetry : The left shoulder is a bit more distanced from the head but not too much.
Support engaging with this Idea and follow me on Medium: tdep.medium.com and on the Medium publication(4.1K+ followers) I write(as editor) about Cryptos and Technical Analysis: medium.com/yardcouch-com
Always wait for the pattern to form before investing, and thanks for reading
1️⃣ A small drop might be expected, as in many head and shoulders patterns
2️⃣ Prices will follow an uptrend to ~$38K which is our target prices zone 🔥
The pattern is validated by:
1️⃣ The Volume : it is ~equal on the two shoulders, ideally the right shoulder should have a slightly lower volume.
2️⃣ Symmetry : The left shoulder is a bit more distanced from the head but not too much.
Support engaging with this Idea and follow me on Medium: tdep.medium.com and on the Medium publication(4.1K+ followers) I write(as editor) about Cryptos and Technical Analysis: medium.com/yardcouch-com
Always wait for the pattern to form before investing, and thanks for reading
