-Not Always but on the left shoulder should be higher than during the advance of the head. Thus decrease in and the new high of the head should serve as a warning. The other warning is when increases during the decline from the head then decreases during the advance of the right shoulder. Finally, should increase during the decline of the right shoulder.
-The slope of the neckline will affect the pattern's degree of bearishness—a downward slope is more than an upward slope
We also can see a correction going on.
The next few days will be very decisive for BTC
We may break the 16.7k area and go to the 1,618 fib extension( I would be surprised if this happens) or we can follow the HnS pattern and go dip to the 8k. Either should be a good thing!
At 1.618 we can enjoy some profits or we can put a stop order and reload at 8k.
next sup zone is 14K usd.
pay attention at 14,2k resistance
Please observe a head and shoulders formed on the last section of the graph, starting with A as a start point for left shoulder, B as a top of the head and bearish trending now to the neckline which I believe will form somewhere between 12k - 13k, then start to form the right shoulder, with a bull run to 15.3k.
Agree with you with fib. lines and by testing my theory, we should start again a bullish trend to a new ATH somewhere around 11.3k - 11.9k .
Please check my theory and let`s talk other options if there are and what is the probability to happen.
Atm. the 15.3k resistance point is strong.
It's a very hard time to trade if you are a beginner as everything can happen! A breakout because of the new fork on December 28th? who nows?
I'm out for now and that allows me to have a good night sleep hahaha.
I really wish BTC hits the bottom at 11.3k like you said so e can reload :)
If you disagree, ok that's your opinion. Just say what think and we maybe can have a discussion.