Bitcoin has been in a relatively consistent uptrend since its inception. Every 4 years, the halving has sparked a bull-run that roughly increases price by a factor of 10.
Over the last year bitcoin has been forming a huge inverse head and shoulders pattern as shown. While normally a H&S is viewed as a reversal pattern, it can, and often does, occur as a continuation pattern -- similar to a bull flag or pennant, patterns that illustrate long term accumulation.
If this does materialize, the best buy point will be around 6500-6800.
To confirm the pattern, the neckline must be broken. if consistent with the previous shoulder, this last stage will take place over the next 4-5 months.
Hope you enjoy this idea, Good luck to all!
Over the last year bitcoin has been forming a huge inverse head and shoulders pattern as shown. While normally a H&S is viewed as a reversal pattern, it can, and often does, occur as a continuation pattern -- similar to a bull flag or pennant, patterns that illustrate long term accumulation.
If this does materialize, the best buy point will be around 6500-6800.
To confirm the pattern, the neckline must be broken. if consistent with the previous shoulder, this last stage will take place over the next 4-5 months.
Hope you enjoy this idea, Good luck to all!