Bitcoin is forming the second of two inverse head & shoulders nested in a a rising wedge.
This pattern won't be confirmed until the right shoulder forms.
There are many indicators flashing bearish signals, so it will be interesting to see how this develops.
This pattern won't be confirmed until the right shoulder forms.
There are many indicators flashing bearish signals, so it will be interesting to see how this develops.
Note
The nested inverse h&s was invalidated, however, there is a larger h&s forming on the daily. Expect downside volatility if the neckline is broken.
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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.