Bitcoin head & shoulders reversal - target level ~$5.8k

BTCUSD is showing a potential head & shoulders reversal pattern here. bearish confirmation & target are labeled on the chart, as well as bullish confirmation (IMO the bearish projection here is more likely statistically). bullish confirmation would likely bring it to at least $20k.

I might add a bigger write-up later if I have time, currently busy with my family. but I will quickly say that this situation and chart is eerily similar to the crash we had pre-Segwit1x fork.

trade at your own risk.

Commentaire:

more and more it's looking like the bearish scenario is being confirmed

Commentaire:

about to retest the neckline in the short-term

Commentaire:

strong rejection of the upside of the channel here
still looking bearish to me; target remains unchanged

Commentaire:

at this point it looks to me like there will be bullish confirmation soon

Ordre annulé:

pattern invalidated. next stop $25k?

Transaction en cours:

it looks like my first chart (this chart) will actually be the correct path now.