BTC printed on the weekly chart a head & shoulder (H&S1) pattern between Feb 8th and May 10th and confirmed head & shoulder territory with a correction corresponding to the top of the head to neckline measurement (ca 37.5 %)
Interestingly, this H&S1 pattern might be inside another head & shoulder (H&S2) pattern starting in December 2020, where H&S1 would form the head of H&S2. If true, this would imply another correction of ca. 54% from the neckline, sending BTC back to 13,5 K $.
This level would correspond to a return to MA 200 Weeks, exactly as BTC printed after previous bull runs marking new ATH. Except for this time, it might be much sooner.
Notice the symmetry axed around March may give us a hint of a timeline.
Interestingly, this H&S1 pattern might be inside another head & shoulder (H&S2) pattern starting in December 2020, where H&S1 would form the head of H&S2. If true, this would imply another correction of ca. 54% from the neckline, sending BTC back to 13,5 K $.
This level would correspond to a return to MA 200 Weeks, exactly as BTC printed after previous bull runs marking new ATH. Except for this time, it might be much sooner.
Notice the symmetry axed around March may give us a hint of a timeline.
