Bitcoin head and shoulders pattern
I am relatively new to technical analysis, but I wanted to share my opinion on this matter and get some information on what you think of the chart.
From my point of view bitcoin is forming a head and shoulders pattern, indicating it should tend to get even lower.
However my question on this is whether it would touch the support around 12000 or drop even lower into the 8k regions.
It broke through the support around 13k at the moment.
I also found an Elliott Wave in the chart, which could mean that this is the last leg of the btc correction.
I would be pleased to hear your opinion on this matter.
Kind regards.
From my point of view bitcoin is forming a head and shoulders pattern, indicating it should tend to get even lower.
However my question on this is whether it would touch the support around 12000 or drop even lower into the 8k regions.
It broke through the support around 13k at the moment.
I also found an Elliott Wave in the chart, which could mean that this is the last leg of the btc correction.
I would be pleased to hear your opinion on this matter.
Kind regards.
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