BTC/USD (Bittrex) – 1hr – H&S Forming before breakout?
Hey guys, appears as if a head & shoulders is forming on the hourly BTC/USD pair on Bittrex.
Massive sell-off at 4400 resistance triggered start of right shoulder formation. Looking to bounce at 4300 back up to ~4350, then complete formation around ~4200 (trend line created from two lows on the 26th of Sept and 5th of Oct).
Target approximately ~4200.
Massive sell-off at 4400 resistance triggered start of right shoulder formation. Looking to bounce at 4300 back up to ~4350, then complete formation around ~4200 (trend line created from two lows on the 26th of Sept and 5th of Oct).
Target approximately ~4200.
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Head and top of the right shoulder now complete. I don't think we'll go as low as 4200 to complete the right shoulder though. Possibly the 4300 to 4320 range for completion of the formation.