Bitcoins current down trend is forming a noticeable/possible Inverse H&S (Not Required To Be Horizontal Like Most Think).
- First note the big signal of sell volume followed by movement up to the "Neckline" forming the "Left Shoulder"
- Then a vast increase in Sell Volume again, and movement up to the neckline for confirmation, forming the "Head"
- Ideally, movement will follow to the "Neckline" again for rejection, ultimately creating the increase in Sell Volume and forming the "Right Shoulder".
- Then followed by an increase in Buy Volume to create a "Breakout" and Test current support, triggering a possible Bull Rally.
- The "Target" is the same distance from the top of the head to the "Neckline".
This is just one of many options.
Please feel free to share your comments and feedback down below.
- First note the big signal of sell volume followed by movement up to the "Neckline" forming the "Left Shoulder"
- Then a vast increase in Sell Volume again, and movement up to the neckline for confirmation, forming the "Head"
- Ideally, movement will follow to the "Neckline" again for rejection, ultimately creating the increase in Sell Volume and forming the "Right Shoulder".
- Then followed by an increase in Buy Volume to create a "Breakout" and Test current support, triggering a possible Bull Rally.
- The "Target" is the same distance from the top of the head to the "Neckline".
This is just one of many options.
Please feel free to share your comments and feedback down below.