Inverse Head and Shoulders. Target 2.18
I have a Fib Retracement from swing high (2.47 on May 16) to swing low (1.07 on May 24) for guidelines
The pattern is not yet fully formed but if we form this right shoulder (must bounce near 1.4 or at the 0.236 level of the Fib Retracement), the target of this inverse head and shoulder is at 2.18 or the 0.786 level of the Fib Retracement that may happen on within the week. I'll continue to watch this if it forms or if it will get invalidated.
The pattern is not yet fully formed but if we form this right shoulder (must bounce near 1.4 or at the 0.236 level of the Fib Retracement), the target of this inverse head and shoulder is at 2.18 or the 0.786 level of the Fib Retracement that may happen on within the week. I'll continue to watch this if it forms or if it will get invalidated.
Nota
Going down atm. We need to bounce near 1.38-1.4 level in the next few hours.
Nota
We bounce off at 1.43 and we broke the neckline of our inverse H&S. As of this writing, ADA is at 1.74. I think we need to bounce off the 1.64 level (the neckline of the pattern) for confirmation. The moves will depend on what Bitcoin will do in the next few hours.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.