Be aware of this formation - It can bring bitcoin to 16600 USD!

7 בפבר׳ 2020

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Hello dear traders, investors, and community the cryptocurrency market is trading in exciting times right now as I showed already in recent analysis.
In my last observations according to bitcoins price movement, I found some important indicators which when confirmed can shoot bitcoin to 16600.
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Lets get right to the analysis which you see right now, we are looking at the daily chart and as you can see there is a massive inverted head and
shoulder formation marked in green. We are just about to form the possible right shoulder the next days and weeks.
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As bitcoin is facing resitance above at 10150 to 10300 I am expecting a correction when not a heavier down move to lower levels but dont panic, this
down-move could confirm the right shoulder which is needed to confirm this massive big head and shoulder formation.
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The percentage amplitude shows the target will be 16600 when the inverted head and shoulder formation confirmed.
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We saw a smaller inverted head and shoulder formation on the local chart picture which already confirmed to the upside.
The big inverted head and shoulder is looking similar to the small one.
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We need to watch for the price movement coming up the next days and weeks for a confirmation of the inverted head and shoulders formation shown
in my analysis. A possible LONG opportunity is given at least when the formation confirmed.
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Thanks, everybody who found this analysis useful, support with a like and follow for more market insight! ;)
All the best and good trading profits my friends!
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9 בפבר׳ 2020

הערה

Information provided is only educational and should not be used to take action in the markets.