To me it's kinda obvious what's next: this massive inverse H&S has been in formation since Oct 2019 and would take us to at least $17k. We also need to catch up with the parabolic trend (around $30k atm) to repeat 2016/17, which I think we will by the end of the year, and this is the beginning of that move. Thoughts?
PS' There is no way to know where the right shoulder will bottom, so don't wait too long. In fact, we could get a very small shoulder, but time will tell.
PS' There is no way to know where the right shoulder will bottom, so don't wait too long. In fact, we could get a very small shoulder, but time will tell.
Trade active:
So the pullback is in effect, I already opened half a position at 9k, will double that close to 8k is possible. The head of this H&S was the coronacrash, which strongly supports the market psychology behind this pattern.
Comment:
A brief update: we're still following this pattern perfectly. Expecting a drop soon, to complete the right shoulder, unless bulls are too horny to wait.
Comment:
It's the final day of the year and our current high is around 29300 $, with a few hours left. I've taken some big profits here and will be waiting to reenter.
Follow me for my 2021 update!
Follow me for my 2021 update!
