inverse head and shoulders

Bitcoin / U.S. dollarBitstamp

Description

⋅ May 26, 2020 12:17 AM

if this inverse head and shoulder pattern plays out we're looking at a price target around 16000. With some FOMO maybe another ATH!

Chart Patterns

Comments

jjaboney

⋅ May 26, 2020 10:44 AM

Thanks. We'll see how this plays out.

CarlsonCryptoTrading

⋅ May 26, 2020 2:48 AM

Great spot. I'm looking at this similar pattern to play out but waiting for confirmation from the right shoulder. I think it will bring enough buyers into the market and they will trade this similar pattern.

Also helps that USD (and all countries) are using QE like crazy which will make BTC more appealing in the future as it would depreciate the dollar against bitcoins.