BTC seems forming a Quasimodo
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Always DYOR.
I think everybody is well versed with Quasimodo Pattern, it consists of 5 Legs as following:
Low > High > Lowerlow > Higherhigh or sometimes the opposite pattern:
High > Low > Higherhigh > Lowerlow.
As described above it seems that BTC is forming a Quasimodo in weekly timeframe. which is contrary to some analysis which they hope for uptrend, it is trend changing pattern which will cause a down trend, just like head and shoulders pattern.
On the other hand it is being formed in the weekly timeframe which is a strong level.
This is personal idea and I am not a financial adviser
Never risk more than you can afford to lose.
Always DYOR.
I think everybody is well versed with Quasimodo Pattern, it consists of 5 Legs as following:
Low > High > Lowerlow > Higherhigh or sometimes the opposite pattern:
High > Low > Higherhigh > Lowerlow.
As described above it seems that BTC is forming a Quasimodo in weekly timeframe. which is contrary to some analysis which they hope for uptrend, it is trend changing pattern which will cause a down trend, just like head and shoulders pattern.
On the other hand it is being formed in the weekly timeframe which is a strong level.
This is personal idea and I am not a financial adviser
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