Bitcoin, Horned by the Bulls
I have been meaning to post this chart several days ago because the weekly printed as a horn pattern a form of double top, which is a reversal pattern. The price objective of this pattern is 5800, and the confirmation of this pattern is a close below the low of the horn which is ~9600 and it appears like it might do that.
There are several obstacles for price objective to hit, the biggest one in particular is 7000 there is a big chance that the price will consolidate around 7000; and if 6000 is hit then I would claim that as the price objective has been met.
For More information on the horn pattern:
thepatternsite.com/hornt.html
Previous analysis:
There are several obstacles for price objective to hit, the biggest one in particular is 7000 there is a big chance that the price will consolidate around 7000; and if 6000 is hit then I would claim that as the price objective has been met.
For More information on the horn pattern:
thepatternsite.com/hornt.html
Previous analysis:
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