Updated

Slight chance @ both a C&H on 1hr btc chart & an inv h&s pattern

Keeping this idea neutral now because although both patterns are in play I don't have that high of confidence either will actually get triggered...the main one I'm gonna show first is this Cup & handle pattern that is forming on the 1 hr chart. We can see that the 1hr 50ma and 200ma are very close to completing a golden cross here and that the 200ma on the 1hr chart is so far holding support fairly well....the 200ma on the 1hr chart and the 200ma on the 4hr chart are sort of overlapping right now and acting as a kind of double reinforced support and the 4hr chart is also on the brink of a golden cross as well. If the 4hr charts 200ma can maintain support as well as the 50ma when it comes up above the 200ma if it maintains support I think these 2 patterns triggering can very much so become a reality but for now I'm not that confident in them only wanted to mention that they were worth keeping an eye on....below this in a follow up update I will post the inverted head and shoulder I decided to post it separately so you can more clearly see the cup and handle pattern but essentially the cup is the 2nd shoulder of the inv head and shoulder pattern.

Note

s3.amazonaws.com/tradingview/snapshots/r/RqRw4xXj.png here is the inverted head and shoulder pattern...this one is very sneaky because the head had such an incredibly long wick most people didn't catch it. Even still its got such an upward slant to it that usually greatly decreases the probability of an inverted head and shoulders triggering...nevertheless, for now it is still in play and worth noting.

Note

shoutout to Anoinvest for initially spotting this h&s pattern please do stop by their profile to give them some love.

DrDovetail

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DrDovetail