There is a potential Inverse Head & Shoulders within larger Adam & Eve double bottom developing for #Bitcoin
TARGETS:
Inverse Head & Shoulders target =~ $11 900
Adam & Eve double bottom target* =~ $15 600 (or 1.618 Fibonacci extension at $15 365)
*only IF we break through $11800 resistance & bullishly resolve the 0.386 Fibonacci retracement, I’d expect us to blast through the volume profile gap ($11800-13500 range). After that, I would start looking for shorts in the ‘’reload zone’’ between 0.618-0.786 Fibonacci retracement ($14600-16900 range) before potential slow decline below $5000 later this year.
In case we do not bullishly resolve the 0.386 Fibonacci retracement, I would also expect a slow decline below $5000 before another bullish cycle begins.
TARGETS:
Inverse Head & Shoulders target =~ $11 900
Adam & Eve double bottom target* =~ $15 600 (or 1.618 Fibonacci extension at $15 365)
*only IF we break through $11800 resistance & bullishly resolve the 0.386 Fibonacci retracement, I’d expect us to blast through the volume profile gap ($11800-13500 range). After that, I would start looking for shorts in the ‘’reload zone’’ between 0.618-0.786 Fibonacci retracement ($14600-16900 range) before potential slow decline below $5000 later this year.
In case we do not bullishly resolve the 0.386 Fibonacci retracement, I would also expect a slow decline below $5000 before another bullish cycle begins.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.