DrDovetail

Possible head and shoulder breakdown here...Target 3290

BITSTAMP:BTCUSD   Bitcoin
Leaving this idea neutral but leaning more short....the head and shoudler pattern on the 4hour chart appears to be triggering a breakdown. We may need a follow up 4 hour candle to confirm this so a fakeout is still possible...but if confirmed we have a drop target of $3290. Of course there is the massive weekly 200ma support just above it that could rpevent thee breakdown to reach its full target were a breakdown to be validated...so watch for a bounce there should it be validated. Odds are good it will be triggered however as we are already seeing lots of volume on this candle. Probability favors a breakdown more so than a fakeout at this point.
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.