We might see a inverse head and shoulders pattern play out on bitcoin , the pattern confirms if we manage to break the last high. If we do expect a test of the next resistance line as indicated on the chart.
at least you state it as possible.
to much of these patterns going around without stating that we are trying to form it but nothing has confirmed it.
I agree completely we need to wait for the uptrend to confirm before we can call it a H&S pattern.
@Phince, patterns like these always need to confirm. Always trade what you see not what you think you'll see. I am playing the bounce though but will be out before we reach confirmation. Will Jump in again after we have confirmation on the pattern.