Potential Inverse Head and Shoulder. Target 41.7K

May 29, 2021

Hi everyone,

From our previous idea of the head and shoulder with a target of 33.6K, we may now be forming another head and shoulder but an inverse one. Note that this is VERY EARLY to tell. But if we ever form this pattern. The target, initially, could be at around 41K in the next few days.

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Cheers,

May 30, 2021

Note

Target of previous idea H&S reached.

We may have reached the peak of the head. We should see a bounce from there. We're also seeing a bullish divergence in the RSI.

May 30, 2021

Note

Adjusted the head. We're almost done forming the head. Let's see if it's going to form.

May 30, 2021

Note

Looks like we didnt reach my initial formation. Though, I managed to adjust the pattern. New target at 40k

May 31, 2021

Note

Almost done forming the right shoulder. Will we go up to form it or continue going down invalidating the pattern?

May 31, 2021

Note

Bouncing right now. When i draw a fib retracement from neckline to right shoulder, the target is near the 2.414 level

May 31, 2021

Note

Posted a separate update here: