BTC - A few challenges.
BTC is in a very decisive moment right now. It might trigger this Head and Shoulders pattern, what could bring the crypto down to U$ 3,850 (the optimal target for the HnS). It didn’t trigger yet, so that’s just a ghost that is haunting us.
In any case, if we see a bullish pattern here, like a Harami or Piercing Line or Bullish Engulfing it could frustrate the Head and Shoulders for good, and take the prices back to the U$ 9,2k again, which is a quite important region (notice that it served as support and resistance in the recent past). For that happen, it should breakout the U$ 7,306 region. In the perfect world, BTC would go up to the green line, U$ 10,500, but for now, we have a few challenges ahead.
In any case, if we see a bullish pattern here, like a Harami or Piercing Line or Bullish Engulfing it could frustrate the Head and Shoulders for good, and take the prices back to the U$ 9,2k again, which is a quite important region (notice that it served as support and resistance in the recent past). For that happen, it should breakout the U$ 7,306 region. In the perfect world, BTC would go up to the green line, U$ 10,500, but for now, we have a few challenges ahead.
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.