The head and shoulders pattern on the BTC 4h looks to be failing for a possible target of $22900. Or do you think it is a fake out being in a bear trend... because there is bearish divergence all over the place.
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A Falling Wedge is a generally considered bullish pattern and is usually found during up-trends
The pattern appears when there is profit booking in an uptrend.
Break Out: A breakout signal is generated when price moves above the pattern’s upper resistance levels. For additional confirmation a trader could wait till prices move above the previous resistance...
This was the smaller potential HnS pattern from my original post yesterday (July 22, 2018) in easier to use than the comment I left yesterday...
This is purely speculative and another pattern could form like inverse AnE (iAnE) instead if we get a pop up towards 7800 and possibly even towards 8200 soon....
EURUSD might breakout the top here, but it'll require massive strength. The interesting thing here is the earlier rising wedge that had a relatively higher bearish atmosphere. This pennant is at the exact same spot.
Will post 5m timeframe chart below.
See earlier rising wedge analysis in the related ideas.
I personally wouldn't trade the long breakout mostly...
