While trying to review daily chart for bulls strength on this current rally, found something amazing and interesting that is worth sharing and requires carefull attention.
-Firstly, there was a failed micro H&S bottom in Jan,2018;
-Right after that in April,2018 there was another micro H&S bottom, completed with target @ $10k+; this H&S bottom created a left shoulder for the huge unconfirmed H&S bottom; Take note!
- Then in June,2018 another micro H&S bottom started forming,and got completed with target achieved close enough to $8500 in first week, of the 2nd half of the year 2018 to form the Head of the huge unconfirmed H&S bottom.
- Fastforward to this month, another micro complex H&S bottom just got confirmed,after yesterday's pump; chart attached;
Technically, the current micro complex H&S bottom target should end at $7200 price range.
And if this happens and price action take a leap close to the battle price of $7800: rememeber this price is a continuation of the downtrend resistance line from Feb,2018 that has been rejecting the old completed H&S bottom that wants to break out and if bulls break the price and touch $8287 at Fib 1, then we have a confirmed huge H&S bottom that could make bullish price action gets triggerred for good on BTC.
Also, the already forming huge H&S bottom posses all the criteria of a successful H&S, staring from the 3 months downtrend price action plus the volume trend and likewise, higher possibility of breaking the neckline or downtrend resistance line after 3 different test on it.
The observation right now is, we have one failed micro H&S bottom in Jan,2018, then followed by three other micro successful or completed H&S bottom. Will all these micro H&S bottom be a good reason why the huge H&S bottom will break out?
Until then fingers crossed and stay vigilant!
-Firstly, there was a failed micro H&S bottom in Jan,2018;
-Right after that in April,2018 there was another micro H&S bottom, completed with target @ $10k+; this H&S bottom created a left shoulder for the huge unconfirmed H&S bottom; Take note!
- Then in June,2018 another micro H&S bottom started forming,and got completed with target achieved close enough to $8500 in first week, of the 2nd half of the year 2018 to form the Head of the huge unconfirmed H&S bottom.
- Fastforward to this month, another micro complex H&S bottom just got confirmed,after yesterday's pump; chart attached;
Technically, the current micro complex H&S bottom target should end at $7200 price range.
And if this happens and price action take a leap close to the battle price of $7800: rememeber this price is a continuation of the downtrend resistance line from Feb,2018 that has been rejecting the old completed H&S bottom that wants to break out and if bulls break the price and touch $8287 at Fib 1, then we have a confirmed huge H&S bottom that could make bullish price action gets triggerred for good on BTC.
Also, the already forming huge H&S bottom posses all the criteria of a successful H&S, staring from the 3 months downtrend price action plus the volume trend and likewise, higher possibility of breaking the neckline or downtrend resistance line after 3 different test on it.
The observation right now is, we have one failed micro H&S bottom in Jan,2018, then followed by three other micro successful or completed H&S bottom. Will all these micro H&S bottom be a good reason why the huge H&S bottom will break out?
Until then fingers crossed and stay vigilant!