Hello Traders,
New Thesis on BTC,
Points to consider here are,
- Potential Inverse head and shoulders pattern playing out
- RSI on an upwards trend
- Right shoulder volume declining, which is common in H&S patterns
- Neckline has been acting as strong resistance, high volume move imminent
- VPVR showing low volume of transactions after resistance
BTC needs to break this neckline with strong volume, if this break out occurs, its more likely that BTC will test yearly highs
What are your thoughts? Please leave a like and comment
and remember,
“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” -William O'Neil
New Thesis on BTC,
Points to consider here are,
- Potential Inverse head and shoulders pattern playing out
- RSI on an upwards trend
- Right shoulder volume declining, which is common in H&S patterns
- Neckline has been acting as strong resistance, high volume move imminent
- VPVR showing low volume of transactions after resistance
BTC needs to break this neckline with strong volume, if this break out occurs, its more likely that BTC will test yearly highs
What are your thoughts? Please leave a like and comment
and remember,
“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” -William O'Neil