Hello Friends, Traders and Interested,
at first I have to excuse myself a bit, because my last Analysis to the possible Head and Shoulder of Bitcoin was not correct printed in my Chart. I still believe in this H & S, but I printed a wrong Neckline. Sorry for that.
Okay, into the Chart. As you can see, the neckline now is corrected. Actually we see the left shoulder, the double top ( Head ) and the actual process of building the right shoulder ( the top of this right shoulder is done). Now we will maybe see a few up and down candles. After this process we will go down under the Neckline (to the blue line), followed by the typical retest to the Neckline. Than we will see the downtrend to the target line ( green ).
All the above predicted might happen and only if the H & S will work. If it finally works will be more clear, when we see a fall from the now builded right shoulder to the first test line ( blue ).
Okay, again a big sorry för my past incorrect TA due to the wrong Neckline. But, I think doing a mistake is okay, but you should accept, learn of it, and correct it.
As always, no trading advice, just educational.
Trade safe and trade on your own risk.
Yours Sascha,
a Like and a Follow makes me happy
at first I have to excuse myself a bit, because my last Analysis to the possible Head and Shoulder of Bitcoin was not correct printed in my Chart. I still believe in this H & S, but I printed a wrong Neckline. Sorry for that.
Okay, into the Chart. As you can see, the neckline now is corrected. Actually we see the left shoulder, the double top ( Head ) and the actual process of building the right shoulder ( the top of this right shoulder is done). Now we will maybe see a few up and down candles. After this process we will go down under the Neckline (to the blue line), followed by the typical retest to the Neckline. Than we will see the downtrend to the target line ( green ).
All the above predicted might happen and only if the H & S will work. If it finally works will be more clear, when we see a fall from the now builded right shoulder to the first test line ( blue ).
Okay, again a big sorry för my past incorrect TA due to the wrong Neckline. But, I think doing a mistake is okay, but you should accept, learn of it, and correct it.
As always, no trading advice, just educational.
Trade safe and trade on your own risk.
Yours Sascha,
a Like and a Follow makes me happy