As we all know that for the past few days $8300 has been the rejected price for BTC to move higher.
With 3 different touches to the horizontal line the right angle broadening wedge (resistance), and two touches to the diagonal trend line (support).
Only a clairvoyant eyes will see this ugly H&S bottom forming up on the chart, and while $8300 serves as the neckline of the H&S.
Next testing of $8300 price may broken for good, and turn into the H&S bottom neckline with breakout confirmation @ $8336.
Once this takes place,BTC may bounce real hard to meet up with the H&S bottom and right angle broadening wedge target @ $8,800 price,
there is room for possible healthy pull back @ $8,619 as this is the right angle broadening wedge target.
With 3 different touches to the horizontal line the right angle broadening wedge (resistance), and two touches to the diagonal trend line (support).
Only a clairvoyant eyes will see this ugly H&S bottom forming up on the chart, and while $8300 serves as the neckline of the H&S.
Next testing of $8300 price may broken for good, and turn into the H&S bottom neckline with breakout confirmation @ $8336.
Once this takes place,BTC may bounce real hard to meet up with the H&S bottom and right angle broadening wedge target @ $8,800 price,
there is room for possible healthy pull back @ $8,619 as this is the right angle broadening wedge target.