Scenario 1 - If Head & Shoulders pattern completes, probability of a a pull back to 
23K-$24k is 51% (NOT 100%)
Scenario 2 - If Head & Shoulders does not complete we may range between 'Support 1' (Pink) and $37k for a while
Scenario 3 - If Head & Shoulders does not complete, and we have a sustained break out above $37k. We will likely go to the Target zone of $40k+
I am currently monitoring to see if the H&S pattern plays out. Will update idea periodically.
23K-$24k is 51% (NOT 100%)Scenario 2 - If Head & Shoulders does not complete we may range between 'Support 1' (Pink) and $37k for a while
Scenario 3 - If Head & Shoulders does not complete, and we have a sustained break out above $37k. We will likely go to the Target zone of $40k+
I am currently monitoring to see if the H&S pattern plays out. Will update idea periodically.
Note
Head & Shoulders pattern invalidated. I think we tickle around the $38,500 zone for a bit then test $40k plusNote
$38,500 Zone tickled for a while and now broken. Up we go to test the $40k+ zoneNote
Looks like Scenario 3 played out here, we'll monitor what happens in $40k+ Zone and draw up some new analysis from there.Congrats to anyone who entered the trade on the sustained break out above $37k as stated. You just made ~7% profit
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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.