oh92

Head and Shoulders to $6000 Retest?

BITFINEX:BTCUSD   Bitcoin
Throughout all of this chop, it appears that Bitcoin has formed a possible head and shoulders pattern.
As I am writing this post, BTC is currently re-testing the established neckline.

IF in fact we do continue breaking down, I have a primary support located around $6000 or in the green range shown above.
There is also potential trendline support around $6200

However there is a recently established higher low, so if BTC fails to break down and instead goes north to retest the downward TL, I will be hesitant to go full bull until we break past the strong resistance at $6800.

So even though I believe there is a higher chance we will fall, I am reaming fairly neutral at the moment due to the amount of chop in the market.
I plan to keep this idea updated in the comments below.


I hope you all found this idea interesting and maybe even a little helpful!
I wish you all the best of luck!

Please feel free to share you ideas regarding the subject below!

Creator of DepthHouse Indicators on TradingView!
depthhouse.com/
Thông báo miễn trừ trách nhiệm

Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.