BitcoinUpdated H&S Trap & 1.236 Extensions Fractal
This is a fractal that i'm noticing in the recent rally on BTC. After the 1k candle that broke the 5K ice and triggered the parabollic rally it printed a H&S whitin a channel where we kissed each 1.236 fibonacci extension of the previous impulse perfectly. The H&S got invalidated when we broke the upper neckline and the RS failed. We went back to the head and re-accumulated before breaking the channel to make a parabollic move up. After the run from 6-8k we seem to have printed a similar pattern. Back again a failed H&S and respect for each 1.236 extension.
The pattern goes like this:
(1) Left-shoulder gets printed
(2) Head gets printed and respects the 1.236 extension of the left shoulder
(3) the right-shoulder gets invalidated and we go to the 1.236 extension of the head, re-accumulate and make a (parabolla) breakout
I'm curious how it will play out, every opinion is welcome!
This is not a buy/long-call, just an analyse of a pattern that i'm noticing
The pattern goes like this:
(1) Left-shoulder gets printed
(2) Head gets printed and respects the 1.236 extension of the left shoulder
(3) the right-shoulder gets invalidated and we go to the 1.236 extension of the head, re-accumulate and make a (parabolla) breakout
I'm curious how it will play out, every opinion is welcome!
This is not a buy/long-call, just an analyse of a pattern that i'm noticing
Note
Just like copy and paste! Note
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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.