Get started
DrDovetail

Cotton Candy Inverse head and shoulders on weekly btc chart

Bitcoin (COINBASE:BTCUSD)  
DrDovetail Updated   
COINBASE:BTCUSD   Bitcoin
Trend Analysis Chart Patterns BTCUSD Bitcoin (Cryptocurrency) BTC 1wkchart Inverse Head and Shoulders 1wk Weekly Charts
5
0
trendanalysis chartpattern btcusd bitcoin btc 1wkchart inverseheadandshoulders 1wk weekly
This is probably more valid on a 3 day chart or so but still valid on a weekly chart as well. We currently have 1 daily candle poking its ahead above this downward slanted bubble gum neckline. I’d say if we can close 2 consecutive 3day candles above the neckline it should validate the breakout. For now the breakout is not confirmed, but if it confirms here the breakout target will be 26.9k *not financial advice*
Comment:
Todays candle has taking a 180 turn and is now lookin like a bull trap. Hopefully it can close green instead of red otherwise if we confirm the breakout fakeout this could lead to a big rejection.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.