Since last November, price action has been ranging above and below a rising wedge which is typically a bearish structure. This has created plenty of market indecision with bears poised to regain control at every dip.
However, the recent pullback didn’t reach the wedge’s support line which is a subtle bullish sign and we’ve now clearly formed an inverse head and shoulders, a classic bullish reversal pattern.
A breakout is on the table with a target at $143K.
However, the recent pullback didn’t reach the wedge’s support line which is a subtle bullish sign and we’ve now clearly formed an inverse head and shoulders, a classic bullish reversal pattern.
A breakout is on the table with a target at $143K.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.