It looks like this current dip could be setting up the right shoulder on an almost 1 year long inverse head and shoulders setup. This is a classic market bottom and reversal pattern. The target out of this pattern, should it complete, is around $34k.
There is weekly and daily moving average support as well as fib support levels as low as the $20k level. I would love such for a revisit to these levels as it sets up the right shoulder, before heading up again to the neckline at $25k.
There is weekly and daily moving average support as well as fib support levels as low as the $20k level. I would love such for a revisit to these levels as it sets up the right shoulder, before heading up again to the neckline at $25k.
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