4hr chart inv h&s breakout target right at horizontal resistancetoday we brokeout of the 4hr inverted head and shoulders pattern on bitcoin and the target takes us precisely to the big horizontal resistance area of 8504 that we have as of yet failed to overcome the previous two tests of it. My guess is we will reach it on this breakout which will get us above he bigger 1 day chars ascending triangle pattern we are currently in, it will then be rejected for a 3rd time stoking fears in people that it is a triple top but on the way back down the top trendline of the 1 day chart's ascending triangle will have become solidified support which will eventually trigger the ascending triangle breakout which should take us to the 9.7k range. We could also be rejected back inside the ascending triangle for a little bit to really build up short positions to use as bull fuel before the final breakout of he triangle it would make a more convincing bear trap that way. Of course there is also always the possibility hat he correction could happen after a 3rd rejection/triple top at the 8504 resistance....its is the least probable of the 3 outcomes but always wise o consider every potential outcome. As I stated in the previous idea, we also have a possibility for the ascending triangle to be validated as a bullish pennant in which case the breakout target for the pennant would be 10776 and with fomo added in we could even test 11k at that point before the firs significant correction. However my presumption is the 9.6-9.9k range is he most probable before the first significant correction. All just my personal thoughts of course and in no way financial advice. thanks for reading!
