The Head and Shoulders Confluence Between BTCUSDT Timeframes
As the chart shows above, the Head & Shoulder pattern are about to form. This happen on Weekly timeframe.
And if we willing to see how strong the validity of a pattern, then we should see it from another perspective.
If we zoom into lower timeframe, we may see that head and shoulder is also forming. Here's the chart from 3 Days timeframe
And also, Daily timeframe
We also cannot validate a future movement that depends only one patterns, so here i show you the really basic MACD crossover indicator in Weekly, 3 Days, and Daily.
On weekly
On 3 Days
And the daily still need to confirm crossover
It's important to know that we need to wait for the pattern to complete. This is so because a pattern may not develop at all or a partially developed pattern may not complete in the future. Partial or nearly completed patterns should be watched, but no trades should be made until the pattern breaks the neckline. The target based on H&S prediction is same as the height from neckline to head.
And if we willing to see how strong the validity of a pattern, then we should see it from another perspective.
If we zoom into lower timeframe, we may see that head and shoulder is also forming. Here's the chart from 3 Days timeframe
And also, Daily timeframe
We also cannot validate a future movement that depends only one patterns, so here i show you the really basic MACD crossover indicator in Weekly, 3 Days, and Daily.
On weekly
On 3 Days
And the daily still need to confirm crossover
It's important to know that we need to wait for the pattern to complete. This is so because a pattern may not develop at all or a partially developed pattern may not complete in the future. Partial or nearly completed patterns should be watched, but no trades should be made until the pattern breaks the neckline. The target based on H&S prediction is same as the height from neckline to head.