Possible Head & Shoulders pattern forming

١٢ يناير ٢٠٢١

Scenario 1 - If Head & Shoulders pattern completes, probability of a a pull back to 23K-24k is 51% (NOT 100%)

Scenario 2 - If Head & Shoulders does not complete we may range between 'Support 1' (Pink) and 37k for a while

Scenario 3 - If Head & Shoulders does not complete, and we have a sustained break out above 37k. We will likely go to the Target zone of 40k+

I am currently monitoring to see if the H&S pattern plays out. Will update idea periodically.

١٣ يناير ٢٠٢١

ملاحظة

Head & Shoulders pattern invalidated. I think we tickle around the $38,500 zone for a bit then test 40k plus

١٤ يناير ٢٠٢١

ملاحظة

$38,500 Zone tickled for a while and now broken. Up we go to test the 40k+ zone

١٤ يناير ٢٠٢١

ملاحظة

Looks like Scenario 3 played out here, we'll monitor what happens in 40k+ Zone and draw up some new analysis from there.

Congrats to anyone who entered the trade on the sustained break out above 37k as stated. You just made ~7% profit