업데이트됨

Bitcoin - Head and Shoulders Pattern - Drop to 6k?

Hey traders, I hope you be fine! I want to share with you what I found in Bitcoin´s chart today. As you can see, there`s a huge head and shoulders (H&S) pattern in formation, which is quite worrying since it indicates a possible drop of bitcoin´s price to 6k dollars, and therefore, a big drop of crypto´s total market capitalization. This is quite concerning since all your investments can be deeply affected by this drop.

If you are not familiar with technical analysis theory, I will explain you what this pattern exactly means. According to technical analysis theory, this pattern corresponds to a Trend change pattern, and it forecast (depending on the H&S direction) an upward or downward movement equal to the height of the pattern´s head. If this pattern consolidates, and price breaks the neck of the pattern (12.500), we can expect a big drop in bitcoin´s price in next few days, which points to $6k target.

Additionaly, if we study volume devolpment throughout time, we can notice that in every peak of the pattern, volume has been decreasing, which supports the idea of a H&S pattern formation.

Finally, I want you to know the reason of this post is to warn you about what can happen with bitcoin price and how it can affect all cryptomarkets total capitalization. H&S shoulders pattern is not confirmed yet, however if price breaks the pattern´s neck you should be worried.

If you find this analysis helpful, don't forget to follow, like and comment. I use to upload new analysis every day :)

노트

Bitcoin is not showing strength signals to break its current downtrend line. Waiting for more info.