"Head and Shoulders Breakdown: Bearish Reversal in Play"
This chart appears to depict a Head and Shoulders pattern, a classic bearish reversal formation, signaling a potential downward trend.
Key Description:
1. Pattern Identification:
Left Shoulder: A rise followed by a temporary dip.
Head: A higher peak after the left shoulder.
Right Shoulder: A rise that doesn't surpass the head, followed by a dip.
2. Trendline/Neckline: A support line connecting the lows between the shoulders and the head, signaling where the price could break down.
3. Bearish Breakout:
Price breaks below the neckline, confirming the pattern.
Target (projected move): Typically equals the height from the head to the neckline.
4. Price Levels:
Current level: Around $104,999.66.
Projected target: $95,032.54, as shown by the downward arrow.
This setup suggests a possible significant drop, confirming the bearish signal after breaking the neckline. Ensure risk management while trading this move.
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.