btc reaches 1hr bullflag breakout target, starts forming h&s.

we can see that btc hit the 1hr bullflag breakout target the immediate went back down under the top trendline of the bigger symmetrical triangle and is now forming a 1hr head and shoulders pattern. I plan on holding until I se the horizontal dashed green line flip to solidified resistance. For now this could still easily be a h&s fakeout. For now we wait.

Commentaire:

btc has reached the bearish breakdown target of the bearflag but still yet to confirm whether or not it will trigger thee h&s pattern as well. Probability slightly favors that it will but for now I'm waiting to see whether or not price action will try to retest the neckline or anything first

Commentaire:

there's a chance the 4hr golden cross may cause it to be a h&s fakeout also a chance if this is just the beginning of a downtrend that the h&s triggering could lead to a 4hr golden cross fakeout we will have to wait and see how the next few 4 hr candles play out. h&s could trigger and the 4hr golden cross still sustain and bounce it right back up too.