Clear Head & Shoulders Pattern played out very similarly to the 2018 Bear Market.
The last time we saw this type of breakdown we can see the bottom wicks were very similar and did NOT suggest a bottom.
The First Support is at $1450.
The Second Support, if we see a World Wide Recession play out, is $460.
I know that the second target seems impossible but I promise you if a World Recession plays out, it will become realistic VERY fast.
For now, we just target First support.
Hope this helps, Good luck!
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Still very confident about this. Have to remember that this takes weeks and even months to play out so the general targets remain the same. Will look to update on possible local bottoms where the price will attempt to bounce. Ultimately, the trend is nowhere near changing Medium/Long term.
Would love to see an new update on this one We reached 1400 already What’s next ?
NoOneWhoIsSomeone
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@mahmoudAhdab, Working on it! Will likely be sometime today later on
tahmidshahid
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Hello bro, I really respect your analysis. You think we might get one last pump to 2400-2500 before crashing to those levels?
NoOneWhoIsSomeone
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@tahmidshahid, I can't say it is impossible but currently, I do not expect it. It is possible though, just don't trade hoping it will reach those levels. Proper risk management is everything in this market.