If btc repeats itself like in 2014 the bottom should be 3000/3500$ just based on a pure comparison with it.
For now seems like it could complete the right shoulder, but if we look at the past the IH&S pattern almost never played out.
I see two scenarios right now.
1) this IHS will play out, after all seems like most ppl expect it won't (based on the past) which is the reason we could already make the last trap towards 7.4-7.7k next week or so.
2) we break 5.7k then we'll go to 4.5k-5k before going to 7k+
until we clearly break 5.7k I still see good chance to make this trap around 7.4-7.7k in about 7/10 days before going down to 4.5-5k
For now seems like it could complete the right shoulder, but if we look at the past the IH&S pattern almost never played out.
I see two scenarios right now.
1) this IHS will play out, after all seems like most ppl expect it won't (based on the past) which is the reason we could already make the last trap towards 7.4-7.7k next week or so.
2) we break 5.7k then we'll go to 4.5k-5k before going to 7k+
until we clearly break 5.7k I still see good chance to make this trap around 7.4-7.7k in about 7/10 days before going down to 4.5-5k
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IH&S
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we are also inside this falling wedge
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be careful about this likely double top
be careful about this likely double top
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forget the last scenario I posted. it's wrong the IHS I highlighted, it played out and also this one we are seeing will likely play out. it just needs to break 6900$. target will be 7.4-7.7k