Hi All
There is a very clear Inverse Head and Shoulders pattern forming on the 1 day.
The inverse H&S pattern is commonly associated with a reversal in trend. If this is the case then BTC may have already bottomed out.
To confirm there needs to be a clear break above the neck line followed by a retest of the previous resistance.
I would also expect to see a surge in volume when the neck line is broken.
Good luck
Blockbullder
There is a very clear Inverse Head and Shoulders pattern forming on the 1 day.
The inverse H&S pattern is commonly associated with a reversal in trend. If this is the case then BTC may have already bottomed out.
To confirm there needs to be a clear break above the neck line followed by a retest of the previous resistance.
I would also expect to see a surge in volume when the neck line is broken.
Good luck
Blockbullder
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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.