There are rules governing a inverse H&S , let's check if the current BTC chart pass the criteria for a well formed Inv. H&S:
Price reversal (PASSED): Price must have something to reverse, so if the decline leading to the pattern is small, expect a small rise.
Confirmation(UNCONFIRMED): The pattern confirms as a valid one when price closes above a down-sloping neckline or above the right armpit when the neckline slopes
upward. So, therefore BTC Inv. H&S is not and Inv. H&S until there is a neckline confirmation @ $6766.
Volume (PASSED): Highest on the left shoulder or head, diminished on the right shoulder
Volume Trend (PASSED): A downward volume trend suggests better post breakout performance.
Target: Place price distance from the Head to the the neckline, and replace the price distance on the neckline for InV. H&S target.
Note: If right shoulder fails to spike up above neckline, then we have a bearish flag: a downtrend continuation to deal with.
Goodluck!
Price reversal (PASSED): Price must have something to reverse, so if the decline leading to the pattern is small, expect a small rise.
Confirmation(UNCONFIRMED): The pattern confirms as a valid one when price closes above a down-sloping neckline or above the right armpit when the neckline slopes
upward. So, therefore BTC Inv. H&S is not and Inv. H&S until there is a neckline confirmation @ $6766.
Volume (PASSED): Highest on the left shoulder or head, diminished on the right shoulder
Volume Trend (PASSED): A downward volume trend suggests better post breakout performance.
Target: Place price distance from the Head to the the neckline, and replace the price distance on the neckline for InV. H&S target.
Note: If right shoulder fails to spike up above neckline, then we have a bearish flag: a downtrend continuation to deal with.
Goodluck!
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.