Bitcoin Cash doesn't seem to escape the Head & Shoulders pattern

I've been reporting for a few days a H&S pattern on Bitcoin and Rejections that have confirmed on a Bearish Trendline

Obviously, this is found on many altcoins and forks such as Bitcoin Cash

I take this opportunity to add a simple analysis of transaction volumes, here on Kraken chosen for its (alleged) absence of wash-trading, but similar on other exchanges: we have the bulk of the volume on the left shoulder and the head, with a steady decrease in volume for the right shoulder, typical of the Head & Shoulders patterns!

Now you have to confirm the breakout under the Neckline that I have drawn for you, and if that happens, the bearish target of about $ 260 is the height of the Head from the Neck line.

Good trades to all... under your sole responsibility, stop loss and risk management in support

ความคิดเห็น:

Sorry for the omission of translation on the volumes graph:

1) Rule: "The highest volume is seen during the Left Shoulder
or possibly at the Head of the H&S pattern"

I take this opportunity to recall two anothers rules established on volumes:

2) "Each phase of decline must suffer a decrease in volumes"
3) "Each phase of increase must be marked by a peak volume"
... and this is clearly the case (my 3 circles), this H&S is healthy and compliant

การซื้อขายยังคงดำเนินอยู่:

Note, on my initial chart on the right, that the transaction volumes stabilize. But they are at their lowest.

ความคิดเห็น:

Still waiting for a clear and unambiguous bullish signal "that breaks the resistance" ...

In the meantime, I see nothing more than that: