It appears that a head and shoulders pattern is forming. The left shoulder and the head have been completed, with only the right shoulder about to commence. BTC has been constantly rejected by the .618 Fib, that would align with our H&S theory and potentially completing the pattern. The potential target could be $5850 where there is a previous trend line of two points of contact from March 2018 and July 2018. Question is will this trend line hold? Maybe, Maybe not.
In light of the recent Coinbase news, I'm sure we will see some fireworks soon! XD
Comment
⋅
The pattern of .618 was broken. Of course this would happen the one time i post in the longest time. None the less it still appears as a head and shoulders is forming.