Some days ago I wrote about BTC Head and Shoulders. Today, we have all the components of the pattern (Head, Left and Right Shoulders and the confirmation breakout - and descending volume on the right shoulder).
The BTC found support on the 9.1~9.3k support zone - a strong support zone. What we are going to see is the test of the resistance of the neckline. If the BTC break this line up, then there is a chance to dismantle the Head and Shoulders pattern. If not, BTC will retest the 9.1~9.3k support zone. If BTC loses this support, then the target is 3.1k.
The BTC found support on the 9.1~9.3k support zone - a strong support zone. What we are going to see is the test of the resistance of the neckline. If the BTC break this line up, then there is a chance to dismantle the Head and Shoulders pattern. If not, BTC will retest the 9.1~9.3k support zone. If BTC loses this support, then the target is 3.1k.
Note
In fact, we had a touch on the neckline.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.