Did BTC inv. H&$ pass the pattern criteria?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
There are rules governing a inverse H&S , let's check if the current BTC chart pass the criteria for a well formed inv . H&S:

Price reversal (PASSED): Price must have something to reverse, so if the decline leading to the pattern is small, expect a small rise.

Confirmation(UNCONFIRMED): The pattern confirms as a valid one when price closes above a down-sloping neckline or above the right armpit when the neckline slopes
upward. So, therefore BTC inv . H&S is not complete until there is neckline confirmation @ $6766.

Volume (PASSED): Highest on the left shoulder or head, diminished on the right shoulder
Volume Trend (PASSED):: A downward volume trend suggests better post breakout performance.

Target: Place price distance from the Head to the the neckline, and replace the price distance on the neckline for inv . H&S target.


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