BTC/USD Head and Shoulders Pattern Analysis
Bitcoin is forming a Head and Shoulders reversal pattern, signaling potential bearish momentum. If bears hold strong, a break below the neckline could lead to a 60,000 pip drop. This would align with the pattern’s price projection, indicating a deep correction.
However, if the price holds above the neckline, we will consider a buy position, especially if candlestick patterns on lower timeframes confirm bullish momentum.
Bearish Target: 60,000 pips drop.
Bullish Outlook: Long entry if the neckline holds.
Stay alert to price action and key levels for confirmation.
However, if the price holds above the neckline, we will consider a buy position, especially if candlestick patterns on lower timeframes confirm bullish momentum.
Bearish Target: 60,000 pips drop.
Bullish Outlook: Long entry if the neckline holds.
Stay alert to price action and key levels for confirmation.
Note
price obeyed the neckline and the sentiment remained bullish with a buy trade followed by a manual trailing stop-loss
Transaction en cours
The neckline did hold with a slight false breakout-down (dip below neckline). Candlesticks provided the buy signal (every candle tells a story), and the rest is history as we are heading to 100k.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.