BTC/USD
Bitcoin and the Reverse Head and Shoulders Pattern
The reverse head and shoulders formation (also known as inverse head and shoulders formation) is one of the most popular and reliable formations used in technical analysis. As the name suggests, it has a shape similar to the head and shoulder. This head and shoulders bottom pattern usually signals a change in price trend. When it occurs the security is likely to move against the previous downtrend. In other words, a completed reverse head and shoulders in gold means that gold is likely to rally.
The reverse head and shoulders formation is characterized by 2 similar lows (called shoulders) and one higher low called head. Neckline is determined by the tops between shoulders and head. Price can go over neckline, but when the price will come back to the neckline it will reflect of it.
The reverse head and shoulders formation (also known as inverse head and shoulders formation) is one of the most popular and reliable formations used in technical analysis. As the name suggests, it has a shape similar to the head and shoulder. This head and shoulders bottom pattern usually signals a change in price trend. When it occurs the security is likely to move against the previous downtrend. In other words, a completed reverse head and shoulders in gold means that gold is likely to rally.
The reverse head and shoulders formation is characterized by 2 similar lows (called shoulders) and one higher low called head. Neckline is determined by the tops between shoulders and head. Price can go over neckline, but when the price will come back to the neckline it will reflect of it.
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