Hey Everyone!
Coming out with my first public chart, here. For those of you who might not be aware, there is a beautiful inverse head and shoulders pattern playing out as you can see here:
By adding a Schiff Pitchfork, we can see where strong support and resistance lines could be based off of the previous peak:
Utilizing the bottom of the right shoulder as base for our Fibonacci levels and the top of the Schiff Pitchfork for the top level we can see this being a point of possible retracement to the 61.8 Fib level, in effect bouncing off of the established uptrend line created by the head and right shoulder before breaking out through inverse h&s and long-term downward trend line. Very exciting moment for BTC guys :)
Let me know what you think down in the comments!
May our investment endeavors help us reach our goals.
Best Regards,
Erik
Legal Disclaimer: Content found within this article or acccount is not financial advice and there is a lot of risk within cryptocurrency and other assets. These are my own formulated opinions and this should not be considered or treated as financial or investment advice.
Looks good so far, keep it up!
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Thanks!
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