I noticed this H&S formation a few days ago and decided it needed to be published. although its not the perfect H&S, after I seen it I couldn't unseen it.
The neckline on this lines up perfectly on that Resistance level.
I have also marked on the chart a potential Bull flag,
this forming bull flag has attempted to pierce through the supply zone twice already which now makes that supply zone a "weak zone"
given the volatility of bitcoin right now it wouldn't be unheard of for it to go on a further run. my TA suggests to the next supply zone around $12500.
IMO we consolidate for a while up there.
**NOTE** Typically I would have an inverse H&S at the bottom of a bigger down trend, I have drawn this in purely because IMO its playing out.
XBT/USD D
The neckline on this lines up perfectly on that Resistance level.
I have also marked on the chart a potential Bull flag,
this forming bull flag has attempted to pierce through the supply zone twice already which now makes that supply zone a "weak zone"
given the volatility of bitcoin right now it wouldn't be unheard of for it to go on a further run. my TA suggests to the next supply zone around $12500.
IMO we consolidate for a while up there.
**NOTE** Typically I would have an inverse H&S at the bottom of a bigger down trend, I have drawn this in purely because IMO its playing out.
XBT/USD D
