Sometimes inverting a chart helps to see patterns more clearly.
I've inverted the BTCUSD daily chart, and the head-and-shoulders pattern becomes more visible.
Does this chart look bearish? Indeed it does, which is bullish for bitcoin.
The neckline is at $12k. A sustained break above this level has a target price of $17k.
It would likely take a month for this pattern to play out, which is around May 1st.
On the downside, we'll want to continue watching the $9k level which is the top of each shoulder.
I've inverted the BTCUSD daily chart, and the head-and-shoulders pattern becomes more visible.
Does this chart look bearish? Indeed it does, which is bullish for bitcoin.
The neckline is at $12k. A sustained break above this level has a target price of $17k.
It would likely take a month for this pattern to play out, which is around May 1st.
On the downside, we'll want to continue watching the $9k level which is the top of each shoulder.
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.