Bitcoin H&S Forming
Updated
Dear Traders!
In the 4-hour chart it is likely that a H&S Pattern is forming.
Why do I think that?
It's because in the 4-hour chart we have just touched the 50 SMA, which builds support for the right shoulder on the neckline.
Br, siwe7
In the 4-hour chart it is likely that a H&S Pattern is forming.
Why do I think that?
It's because in the 4-hour chart we have just touched the 50 SMA, which builds support for the right shoulder on the neckline.
Br, siwe7
Note
Sorry, not 50 SMA, but MA. It's the green one.Note
Note: This scenario depends on the 50 MA, whether it holds or not.If it holds, a H&S seems likely to me.
If not, we will see a correction far beyond 10k. best would be around 7k. Than we might see transition from EW 2 to EW 3.
Note
H&S Pattern failed.
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