BITCOIN head and shoulders or symmetrical triangle?
Hello,
As you can see in my TA there are two patterns forming right now, a possible head and shoulders and there is a symmetrical triangle.
I would like to inform you to be careful and consider selling your bitcoin, when this pattern breaks to the downside the expected price target would be around 16k.
DISCLAIMER:
Dont forget that we are in a bulltrend, bearish patterns can underperform in a bullish environment. It is possible that this H&S will be "ignored" and this will mean that we are probably breaking the 20k resistance level. But just keep in mind that we can get a correction because the daily and weekly RSI are strongly overbought and need to cool down.
Greetings,
Emre
As you can see in my TA there are two patterns forming right now, a possible head and shoulders and there is a symmetrical triangle.
I would like to inform you to be careful and consider selling your bitcoin, when this pattern breaks to the downside the expected price target would be around 16k.
DISCLAIMER:
Dont forget that we are in a bulltrend, bearish patterns can underperform in a bullish environment. It is possible that this H&S will be "ignored" and this will mean that we are probably breaking the 20k resistance level. But just keep in mind that we can get a correction because the daily and weekly RSI are strongly overbought and need to cool down.
Greetings,
Emre
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