Another H&S forming with the left and head already formed. This H&S iS inside a bearflag that will take us to the next target shown by the dashed red line ($6,800). Also, EW analysis works for the H&S pattern which upon completion with a high volume should make trading this bearflag more reliable.
For educational purposes only.
Good luck and if you like my ideas/charts/commentary, please encourage by LIKING & FOLLOWING me.
For educational purposes only.
Good luck and if you like my ideas/charts/commentary, please encourage by LIKING & FOLLOWING me.
Comment:
My ABC correction path is obviously not correct but that doesn't change that we are still in an unconfirmed right shoulder inside a bearflag targeting $6,800 which interestingly enough is the rising support line from 9/22/2017 and 2/6/2018. if we get there and go below, the next support is at 6K
Comment:
If BTC rises above the head of the H&S, it could signal a strong reversal. Always have to remind myself that i am only identifying patterns and to stay neutral and wait for a breakout confirmation in the direction it breaks and then trade...
Comment:
Possible reversal taking place. look at upwards channel we are in both large and small. We will get bullish if we go over head of H&S (red horizontal line) and 20EMA looks like it will cross over 50EMA soon making things more bullish.
