I still see people hanging on to the Idea that BTC is in an IHS pattern. I DO NOT BELIEVE THIS TO BE TRUE . If it is an Inverse Head and Shoulders pattern, then its some kind of hunchback, or two headed monster!
- What I see are double tops and double bottoms. Same typical pattern we've seen all year. You can see the volume at the bottom shows a higher level at the shoulder than it does at the head. This is typically an indicator that the pattern was invalid after forming the head area. you can see where the base line and neckline would typically be IF this was an IHS, and so far a break out to the upside above $4400 has failed to confirm this pattern. So i'm sticking with the Double Top / Double Bottom pattern if I had to place a name on what I currently see.
These are only my opinions
- Safe Trades and Happy Hodling -
- What I see are double tops and double bottoms. Same typical pattern we've seen all year. You can see the volume at the bottom shows a higher level at the shoulder than it does at the head. This is typically an indicator that the pattern was invalid after forming the head area. you can see where the base line and neckline would typically be IF this was an IHS, and so far a break out to the upside above $4400 has failed to confirm this pattern. So i'm sticking with the Double Top / Double Bottom pattern if I had to place a name on what I currently see.
These are only my opinions
- Safe Trades and Happy Hodling -