$BTC 2020-SEP-02
Updated
Is the writing on the wall for BTC?
Personally, I am a stickler for rules. So I don't like the volume profile. In a head & shoulders reversal, we should be seeing a drop off in volume as we progress through the pattern; but that isn't really happening here. That being said, this pattern does give a downward target that is nicely at the bottom of the channel - which would offer some great buying opportunity...
Here we can see the importance of $12,000 as an area of resistance:
#crypto
Personally, I am a stickler for rules. So I don't like the volume profile. In a head & shoulders reversal, we should be seeing a drop off in volume as we progress through the pattern; but that isn't really happening here. That being said, this pattern does give a downward target that is nicely at the bottom of the channel - which would offer some great buying opportunity...
Here we can see the importance of $12,000 as an area of resistance:
#crypto
Note
Even a stopped clock is right twice a day.
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