oldstout

Another classic HS ? :-)

Short
oldstout Updated   
OKCOIN:BTCCNY   None
Details at chart. Right shoulder and head are pretty similar.
Important moment probably incoming - test of trendline.
Comment:
Neckline around 2780cny, potential target if we'll go out of HS is 2700-2720cny.
Comment:
If we'll bounce off the neckline, new high is likely (2854cny+ and 2884cny is still major resistance/target) but slowly, with sideways and many chops.
Comment:
Perfect HS prediciton.
Looks like neckline + trendline is strong support for now:

Comment:
IF pattern from HS (new trendline in short+breakout) will repeat itself now, we should see something like this below. Btw. I don't see more than one more repeating this pattern co I think it will bounce from trendline and start new bullish run, maybe not so fast as at chart.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.