Bitcoin - HAS pattern
BTCUSDThe head and shoulders pattern on BTCUSD.
I see a huge HAS pattern on the weekly chart.
Please correct me if I’m wrong. This is all just an assumption.
- Volume is very low on the tops, and is expanding when the trend is moving downwards.
- We might see a break of the neckline in the near future.
- When you measure from the top of the middle peak till the neckline, and you move that measurement downward you can see that there is a huge profit potential.
- Last couple of weeks volume expanded and it maybe will multiple, once the neckline is broken.
What to expect after a break of the neckline?
- Once broken than after a couple of weeks we can expect a rally back to the prior neckline, which will now act as resistance (mostly, prior resistance becomes support once broken, and vice versa)
Or?
- Or we can bounce at the neckline, and the neckline will serve as support, and the trend turns bullish again.
Please let me know in the comments, where you think Bitcoin is headed.
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