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IlyaElbert
May 22, 2018 8:20 PM

Potential Head and Shoulders Bottom Reversal  

BITFINEX:BTCUSD60
Bitcoin / DollarBitfinex

Description

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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_school:chart_analysis:chart_patterns:head_and_shoulders_bottom_reversal
Chart PatternsHead and ShouldersBTCUSD
Comments
rlreecer
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Even if 95% of the overall TA shows it going up, even if everyone wants it to go up...well....all the long calls wrong again...
Berserker_Crypto
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