BITCOIN analysis update (Daily Chart)
(Inverted Head and Shoulder Pattern)
Following the completion of the Head-and-Shoulder pattern, we can easily see a on-going Inverted Head-and-Shoulder pattern formation.
We have that the left shoulder and left section of the head are fully formed. We are anticipating the completion of the right section of the head and the right shoulder. This head is invalidated if price drops below its lowest, and thereby elongates the head structure, but If price further goes up, we should be expecting good reaction after the completion of the head structure.
Note that it is not a necessity that price action follows the path drawn but this gives an insight to what is expected.
Kindly note this is not a signal. This article is for educational purpose and not a financial advice. As we know, the cryptoverse is a highly volatile ecosystem. Do your due diligence.
(Inverted Head and Shoulder Pattern)
Following the completion of the Head-and-Shoulder pattern, we can easily see a on-going Inverted Head-and-Shoulder pattern formation.
We have that the left shoulder and left section of the head are fully formed. We are anticipating the completion of the right section of the head and the right shoulder. This head is invalidated if price drops below its lowest, and thereby elongates the head structure, but If price further goes up, we should be expecting good reaction after the completion of the head structure.
Note that it is not a necessity that price action follows the path drawn but this gives an insight to what is expected.
Kindly note this is not a signal. This article is for educational purpose and not a financial advice. As we know, the cryptoverse is a highly volatile ecosystem. Do your due diligence.
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