Bitcoin Head & Shoulder, Bulls broke down #BTC #Coinbase

COINBASE:BTCUSD   Bitcoin / Dollar
My last graph showed promising news for bitcoin as it looked like the correction was over.

Over the weekend, the bulls broke down and formed a Head & Shoulder formation. Volume backs this up. Will probably retrace back down to 8k or lower.
Not sure I agree. BTC is in a large Pennant formation, It will go up quite a bit (inside the support and resistance of the pennant), but what is important is to understand what happens thereafter, up or down.
+1 Antworten
@Fragnstein, Mind drawing out what you had in mind? Usually everyone's drawing is a little bit different and I'm quite interested what others think.

Also, I think this is a regular correction BTC is going through. My original Elliot wave correction had it down as low as $8200 in the ABCDE Triangle correction wave, still waiting for E wave to play-out. My next target is BTC will go as high as $32,000 later in the year.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden