Head & Shoulders pattern in bitcoin
While for long term view my bias is bullish, this pattern on the all time Highs is probably a bearish sign.
Price has already broken the neckline which is confirmation of the bearisness, BUT... after a while returned back above it again which suggests neggation of the pattern.
Confirmation that the pattern is neggated and we are back in bullish mode will give us the price action when passes up and closes above the Right Shoulder.
So... until then i keep a close eye to what the price action does.
Price has already broken the neckline which is confirmation of the bearisness, BUT... after a while returned back above it again which suggests neggation of the pattern.
Confirmation that the pattern is neggated and we are back in bullish mode will give us the price action when passes up and closes above the Right Shoulder.
So... until then i keep a close eye to what the price action does.
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