Do we have a reversal pattern?
-Graphically speaking, crypto is making a nice reversal pattern.
-However, will it succeed, since BTC is the thermometer for other cryptos.
-According to the monthly chart, prices are in a trap region, so it can go either way, depending on the strength of Bears and Bulls (pessimists/optimists). We have an LT (dashed green line) which if respected (do not lose the 0.8359 range) could be seen as a bottom.
-On the weekly chart we see prices wanting to leave a trail, the formation of a bullish pivot.
-From the daily chart, I can see that things can really improve: a reversal chart pattern, the H&S-I, and it seems to me that it can seek the long average. What a thing, no?
-H&S (Shoulder-Head-Shoulder) usually appear in trend reversals. In the reversal of a bullish to bearish trend, we call the pattern H&S. In bearish to bullish trend reversal, we call the pattern H&S-I.
-Will it live up to this standard? Everything will depend on the famous BTC.
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other chart reviews.ngview.com/chart/SEQL3/lOeTmiGM/
-However, will it succeed, since BTC is the thermometer for other cryptos.
-According to the monthly chart, prices are in a trap region, so it can go either way, depending on the strength of Bears and Bulls (pessimists/optimists). We have an LT (dashed green line) which if respected (do not lose the 0.8359 range) could be seen as a bottom.
-On the weekly chart we see prices wanting to leave a trail, the formation of a bullish pivot.
-From the daily chart, I can see that things can really improve: a reversal chart pattern, the H&S-I, and it seems to me that it can seek the long average. What a thing, no?
-H&S (Shoulder-Head-Shoulder) usually appear in trend reversals. In the reversal of a bullish to bearish trend, we call the pattern H&S. In bearish to bullish trend reversal, we call the pattern H&S-I.
-Will it live up to this standard? Everything will depend on the famous BTC.
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other chart reviews.ngview.com/chart/SEQL3/lOeTmiGM/
Related publications
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.