2/27/18 1:40am EST
Similar to the long-term trend seen on the 4hr BTC chart which represents an inverse Head & Shoulders with a bit of a down-trending neckline, this 1 or 2hr BTC chart shows another inverse HS that seems to point to a horizontal neckline that has yet to begin its decent downward to enter the right shoulder. Oddly enough the right shoulder peak would hit roughly around the $9500 mark which seems to follow our charts and predictions given previously. BTC has potentially broken from the regression channel in both the 2 & 3 standard deviation variations but we do not expect this upward trend to continue in the short-term, but rather complete the pattern as indicated before we get a significant upwards movement. Let's watch and see if this inverse HS plays out as we have guessed. Why do we call it a guess? Chart patterns and formations are not entirely predictable and should not be deemed so until we actually see things play out from start to finish!
Similar to the long-term trend seen on the 4hr BTC chart which represents an inverse Head & Shoulders with a bit of a down-trending neckline, this 1 or 2hr BTC chart shows another inverse HS that seems to point to a horizontal neckline that has yet to begin its decent downward to enter the right shoulder. Oddly enough the right shoulder peak would hit roughly around the $9500 mark which seems to follow our charts and predictions given previously. BTC has potentially broken from the regression channel in both the 2 & 3 standard deviation variations but we do not expect this upward trend to continue in the short-term, but rather complete the pattern as indicated before we get a significant upwards movement. Let's watch and see if this inverse HS plays out as we have guessed. Why do we call it a guess? Chart patterns and formations are not entirely predictable and should not be deemed so until we actually see things play out from start to finish!