Large head and shoulders on Bitcoin Monthly

6 พ.ค. 2022

I have been unhappy with the projections of where Bitcoin is headed. Nobody seems to really know. There seems to be a heavy sentiment of downward, capitulation and some of the usual calls for ATH, which makes sense but I haven’t seen a pattern that looks strong. On the monthly I noticed a pattern that I like. The 5 EMA (yellow) - is about to make the right shoulder of a head and shoulder pattern.
It is an interesting pattern because it is neither capitulation, nor is it new all-time high. Price would need to climb to about 57000 to fully form the shoulder before it drops. This is my first idea so thanks for reading.