Here is one for the IHS case everyone seems to be expecting. We had a very similar pattern in july 2018. Indicators and oscillators exhibiting same arrangements.
One thing to note is that in both 2014 and 2018 bear markets, BTC has always reached the top of the downtrend cloud once breached. In this case, that would mean an eventual move to 4800 area.
Of course, Badger is full of surprise, and there is a first time for everything.
One thing to note is that in both 2014 and 2018 bear markets, BTC has always reached the top of the downtrend cloud once breached. In this case, that would mean an eventual move to 4800 area.
Of course, Badger is full of surprise, and there is a first time for everything.
Comment:
The flat handle extension makes it less likely for the pattern to repeat. However, there is still a probability. A drop to 3450~3500 zone would make BTC fall at the level of the first shoulder and still be ok. Of course, a drop below the head would invalidate the pattern.