Plan works perfect so far, showing 76-77.3K target

11 Apr

Morning everybody,

So, our H&S pattern starts perfect. The only thing that we've missed is the neckline top - we thought it should be around 71K but it has been formed around 73K, which is even better in perspective.

So, 2nd stage of the plan is done as well - right arm stands in place. We also have bullish grabbers on daily chart.

All this stuff, based on H&S suggests action at least to ~75.8-76K area, while daily expansions point on 77.3K.

Invalidation point of this scenario is 67.5K right arm's lows. If BTC drops below it, our view will turn bearish based on H&S "Failure" pattern. But for now we have no reasons yet to consider bearish setup.