BTCUSD H&S pattern
BTC technical Analysis.
On the weekly time frame, Bitcoin has formed a bearish pattern indicating that a likely correction all the way to $30,759 is imminent.
Bitcoin has also formed a lower high indicated by the white arrow candle, the low is identified by the massive bearish engulfing candle that eclipses the 2 weeks before it.
A head and shoulder pattern can be seen on the weekly two identified by the two patterns already mentioned.
The head and shoulder pattern is better observed on the daily which currently shows a breakdown of the H&S neckline.
A formation of a bearish candle pattern at $49,072 will signify that price will fall to $29,186
Alternative scenario.
If Price is able to close above $49,072 before the end of this week then perhaps the market will continue upward.
On the weekly time frame, Bitcoin has formed a bearish pattern indicating that a likely correction all the way to $30,759 is imminent.
Bitcoin has also formed a lower high indicated by the white arrow candle, the low is identified by the massive bearish engulfing candle that eclipses the 2 weeks before it.
A head and shoulder pattern can be seen on the weekly two identified by the two patterns already mentioned.
The head and shoulder pattern is better observed on the daily which currently shows a breakdown of the H&S neckline.
A formation of a bearish candle pattern at $49,072 will signify that price will fall to $29,186
Alternative scenario.
If Price is able to close above $49,072 before the end of this week then perhaps the market will continue upward.
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน