#Bitcoin has shown a due drop in PA today
According to my thoughts it is completing its iHS's right shoulder,
I have provided few solid reasons that might work out
1. The red parallel channel acting as recently formed mini iHS neckline that should be tested as to confirm support around 3500-3600
2. The black trendline has been tested thrice as resistance and then finally broken upward
3. The black trendline has been tested twice as support and might be tested third time to complete decline of mega iHS's right shoulder around 3500-3600
4. The red parallel channel and black trendline providing confluence of supports around 3500-3600
5. The blue parallel channel is acting as mega iHS neckline
6. I am continuously following this mega iHS pattern since 12th Dec: that you can check in my Facebook Profile HERE.
7. The black question mark is left for future PA whether we will bounce or not.
Thanks
According to my thoughts it is completing its iHS's right shoulder,
I have provided few solid reasons that might work out
1. The red parallel channel acting as recently formed mini iHS neckline that should be tested as to confirm support around 3500-3600
2. The black trendline has been tested thrice as resistance and then finally broken upward
3. The black trendline has been tested twice as support and might be tested third time to complete decline of mega iHS's right shoulder around 3500-3600
4. The red parallel channel and black trendline providing confluence of supports around 3500-3600
5. The blue parallel channel is acting as mega iHS neckline
6. I am continuously following this mega iHS pattern since 12th Dec: that you can check in my Facebook Profile HERE.
7. The black question mark is left for future PA whether we will bounce or not.
Thanks
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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.