Inverse Head and Shoulders. Target 2.18

May 25, 2021

I have a Fib Retracement from swing high (2.47 on May 16) to swing low (1.07 on May 24) for guidelines

The pattern is not yet fully formed but if we form this right shoulder (must bounce near 1.4 or at the 0.236 level of the Fib Retracement), the target of this inverse head and shoulder is at 2.18 or the 0.786 level of the Fib Retracement that may happen on within the week. I'll continue to watch this if it forms or if it will get invalidated.

May 25, 2021

Note

Going down atm. We need to bounce near 1.38-1.4 level in the next few hours.

May 26, 2021

Note

We bounce off at 1.43 and we broke the neckline of our inverse H&S. As of this writing, ADA is at 1.74. I think we need to bounce off the 1.64 level (the neckline of the pattern) for confirmation. The moves will depend on what Bitcoin will do in the next few hours.