If #bitcoin goes back to 44K we might print a second inverted head & shoulders pattern. The first one didn’t play out. Would the second one do if we get another one in March?
We do not have the pattern yet, so even though that would become a bullish pattern is still not ready for trading. We are just trying to anticipate what could be next.
In order to achieve a potential tradable setup we would need:
1) BTC to hold above the March CPR pivots
2) Price to bounce back to 44K
3) breakout the 44K neckline
4) retest the neckline
5) show enough volume
Interestingly indexes are closing in green.
We do not have the pattern yet, so even though that would become a bullish pattern is still not ready for trading. We are just trying to anticipate what could be next.
In order to achieve a potential tradable setup we would need:
1) BTC to hold above the March CPR pivots
2) Price to bounce back to 44K
3) breakout the 44K neckline
4) retest the neckline
5) show enough volume
Interestingly indexes are closing in green.
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