Head & Shoulders + Rising Wedge. Is Bitcoin About To Dump?

Price action broke out as I expected in my previous idea and it's currently heading to form a Head & Shoulders around 16700 USD. The reason why the price should fall down eventually is the appearance of a rising wedge pattern. Support at the confluence shown at the end of the right triangle.

There is a pivot between December 31st and January 1st.

Giao dịch đang hoạt động:

Almost there.

Giao dịch đang hoạt động:

Bitcoin formed an ascending broadening wedge pattern, dumped from it and got rejected after the bounce. Next bounce should around 13500 so we're close to it.

Giao dịch đang hoạt động:

Perfect bounce at 13500 as expected. It is either going to 15100 once more now to dump afterwards or directly dumping down to 11k or so.

Giao dịch đang hoạt động:

Next stop for BTC at 10200. Could have a bounce but considering the Head & Shoulders pattern, it should dump lower from that point.

Bình luận:

Bình luận:

Diamond Pattern Formation appeared. These ones normally end up breaking down.