BTC BITCOIN Inverse head and shoulder formation in a channel

29 Nis 2021

Hello Traders,

Here the 2 hour chart of Bitcoin . Clearly we are in a perfect downward trend channel. We also see the formation of the right shoulder of the inverse head shoulder formation.
Target for this head and shoulder formation is 65000 usd when breaking through the neckline.

Currently watch carefully what happens to the price. If it drops below 50000 then the main head and shoulder formation is no longer valid. It is very well possible that the price will rebound and then break through the neckline to the old top with the forming of the right shoulder.

As often, a picture say more than a thousand words!

30 Nis 2021

Yorum

BTC broke out of the downward trendchannel but not yet at the neckline. I see it happen soon.

30 Nis 2021

Yorum

BTC broke the neckline. Now we get the first target at 65000 USD.
Classical the month May is still the second best month in all years so that helps!

2 May 2021

İşlem aktif

We have a good chance that BTC will see the old top again soon! The inverse H-S neckline is tested.

6 May 2021

Yorum

Hello traders,

Please keep a close eye on Bitcoin's roadmap as it is hugely important for ALT COINS and the rest of the crypto market.
I have a link here to Bitcoin's Roadmap.

We are still caught between Target 1 and Support 1 with Bitcoin. We'll have to wait and see how Bitcoin develops further but in the meantime this is good news for ALT coins. As long as BTC moves wonky the ALTS can continue to rise but always keep an eye on this chart to see exactly where we are! Trade safe and use always stops!