Inverted Head & Shoulder Pattern flirting with neckline.
Updated
If we trigger a bullish break upward from both the inverted head and shoulder pattern and the falling wedge pattern we will next be testing the much larger triangle pattern we are inside's top trendline. Breaking upward from the bigger triangle pattern has the potential to take us to 20k+ and saeeing how we are nearing it's apex as well I think up is going to be the path of least resistance and still am fully behind my mantra of "To the Moon In June!". Also, the original pattern of the Adam and Eve double bottom is still very much in play and I predict all of these bullish patterns will be triggering in the next couple months as well as the impending golden cross on the 1 day chart. As soon as the 200MA on the 1 day chart no longer factors in the climb to the ATH from november-first half of december. The 200MA should drop significantly and trigger the golden cross that will kick the bull market into gear. The 200MA is currently factoring in all price movement from November 13th of 2017 until today....so by July it should no longer be factoring in the climb to the ATH and the 200MA should by then definitely dip below the 50ma on the 1 day chart, if not sooner. Looks like it shold be a bullish summer.
Comment
Our higher low was $7259 followed by a higher high of $7609 if our next low is higher than $7259 that will be an excellent sign. We can currently see how even though the price action dipped back below the 4hr t line(in yellow) that the 4hr buy/sell line(in orange) provided solid support thusfar. Uncertain whether or not it will maintain that support, but as long as we stay above $7260 it is a great sign for the bulls. As I expected earlier the 60 line of the 4 hour RSI is still maintaining a strong resistance and it won't be until we can flip that resistance to a line of support that we see the bulls take the reigns. s3.amazonaws.com/tradingview/snapshots/a/AWx5lO9F.pngDisclaimer
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