Head and Should forming in BTC before the fork.I think a clear head and shoulders is forming. It could rise up a little more and then drop the length of the neckline. Textbook head a shoulders move. This would put the buy zone at 4700 conservatively. This would be wonderful right before the fork for those who want to buy big. Resulting in a huge push to ATH. A textbook setup to subtly dab on the haters.
Shoulders
THE $LITECOIN BIG PICTURE STORY || POSSIBLE H&S FORMATION !!Watch closely as the right shoulder is about to make a critical movement on the weekly chart that could signal price reversal. RSI indicates $LTCBTC has been oversold for a significant amount of time. FIb levels on the weekly provide STRONG support levels.
$RISE FORMING HEAD & SHOULDERS,LONG OPPORTUNITY —WAIT TO CONFIRMH&S pattern, showing bullish signs. Consider buying after confirming bullish reversal
Classical SHSAs we see, price formed a high (left shoulder)
The correction was pretty tough, went back nearly all the way (first weak signal that SHS might be forming)
the next high could not get much higher (head)
the correction was very tough again and went back to the level of the former correction,
The next high (right shoulder) could not go higher than the second (head), thats where a SHS is very close
now draw the neckline, (connect the beginning of the left shoulder with the low after left shoulder, and low after the head)
If the price breaks this neckline, the SHS is completed, and it is very likely that the price will fall the same amount, it went up from the left shoulder to the head.
All clear?
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EURUSD HEAD AND SHOULDERS A PIVOTEURUSD just broke the neckline of a head and shoulders pattern. Pair is also pivoting off a yearly and quarterly pivot point cluster. Only obstacle is the yearly pivot level, if that breaks, I expect the head and shoulders measured move to happen which will also fill the GAP many FX brokers have on their charts. Yearly pivot could act as a pullback area to the neckline.