DrDovetail

Total 2 h&s going down to test the h&s neckline

CRYPTOCAP:TOTAL2   Crypto Total Market Cap Excluding BTC, $
The total2 h&s pattern has a perfectly level neckline and price action is now going down to test it right now. I will not be bullish or bearish on the overall market until I see it confirm either a breakdown or fakeout from this pattern. I think whatever happens on this pattern will likely give us a heads up on which direction bitcoin is going to ultimately head. In the shorter timeframes the bears are definitely in control here but the bigger time frames are still a tossup. If I see a fakeout occur on the neckline of this total2 h&s pattern I will likely ladder in small amounts of a few different alts. Not financiaL Advice just my current plan. If it confirms a breakdown then 8.5k and possibly lower on btc becomes very probable.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.