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IlyaElbert

Potential Head and Shoulders Bottom Reversal

Bitcoin (BITFINEX:BTCUSD)  
IlyaElbert  
BITFINEX:BTCUSD   Bitcoin
Chart Patterns Head and Shoulders BTCUSD
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chartpattern headandshoulders btcusd
ON THE BTC:USD 1 hour chart, we have a potential Head and Shoulders Bottom Reversal.

Bitcoin needs to complete the right shoulder, and not dip below $7900 in order to avoid negating the pattern. A downward sloping neckline signifies a weak breakout, if there is one. Volume will be necessary to avoid a rejection at the neckline.

sources: stockcharts.com...school/doku.php?id=chart_s...
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