Weekly chart recently confirmed inverted head and shoulders when it broke through weekly resistance. We are re-testing this area now. Should it succeed and become support, we may begin a move towards revisiting previous highs in btc value. A clear & extended break below the bottom yellow line invalidates this setup.
For our first impulse, I’m expecting a move up that is equivalent to the length from the bottom of the head to the first yellow line (you would need to find this by drawing your line in a non logarithmic view), and then eventually moving up to test one or each of the upper yellow lines.
Forgive my lack of drawing here, I’m in the barren frozen wasteland of Texas this week and am doing this from my phone.
For our first impulse, I’m expecting a move up that is equivalent to the length from the bottom of the head to the first yellow line (you would need to find this by drawing your line in a non logarithmic view), and then eventually moving up to test one or each of the upper yellow lines.
Forgive my lack of drawing here, I’m in the barren frozen wasteland of Texas this week and am doing this from my phone.
注释
If I could delete this idea - I would, I tried to publish this from my cell phone during the TX freeze/power outage, and it posted the wrong display plus added a 2nd chart that is totally unrelated, my apologies, see my other more recent ideas regarding Ethereum, like this one:
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