Lets get right into it. So, what is happening right now is, we are testing the top of the triangle at the moment. While attempting this BTC is showing a formation of a inverted H&S pattern. However as always a pattern is not confirmed until it is completed. This formation is happening at the very edge of top line of the triangle. We must not only wait for a breakout from the triangle, we should also see a little upwards movement after the H&S formation, so patience is the key for reducing the risk of buying TOP!!! The second posibility is breaking down again which we will test the bottom line of the triangle. So be patient and wait for confirmation before entering a position. So at this point first lets see if BTC could win the battle against the top line, then lets wait for the formation of the right shoulder.
As always, just a thought not an advice.
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As always, just a thought not an advice.
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Komen:
Hope the zone are helping!! keep safe =)