Alikze »» BCH | Head and shoulders pattern scenario

6月28日

🔍 Technical analysis: Head and shoulders pattern scenario

- It is moving in a medium-term ascending channel.

- But now, due to the structural correction, it is moving in a short-term downward channel.

- Currently, due to the breakdown of the structure and the downward slope, as well as the movement in a short-term downward channel, it can continue with the pullback to the broken structure and the supply zone to the origin of the correction movement.

- Therefore, it can continue the correction with a retest up to the ceiling of the short-term descending channel and the supply area and complete the last leg up to the 250 range by breaking the major ceiling.

💎 Alternative scenario: if it can break the supply zone, the first target will be the $500 range, which can be considered as a pullback to the major ceiling.
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9月3日

注释

According to the movement path and pattern, after reaching the supply area, it has faced selling pressure. After that, the correction continued with more than 37% to the middle range of the correction channel.