Large head and shoulders on Bitcoin Monthly
I have been unhappy with the projections of where Bitcoin is headed. Nobody seems to really know. There seems to be a heavy sentiment of downward, capitulation and some of the usual calls for ATH, which makes sense but I haven’t seen a pattern that looks strong. On the monthly I noticed a pattern that I like. The 5 EMA (yellow) - is about to make the right shoulder of a head and shoulder pattern.
It is an interesting pattern because it is neither capitulation, nor is it new all-time high. Price would need to climb to about 57000 to fully form the shoulder before it drops. This is my first idea so thanks for reading.
It is an interesting pattern because it is neither capitulation, nor is it new all-time high. Price would need to climb to about 57000 to fully form the shoulder before it drops. This is my first idea so thanks for reading.
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