3/5/2018 : Bitcoin - Inverted Head & Shoulder formation complete, What Next?

Summary:

Bitcoin has completed the inverted H&S pattern and breached the neckline yesterday, price is currently trading at 11500ish resistance level.

What Next?:

Looks like we might see a small entrancement back into one of the support zones around 10800ish before it heads up to the pattern target of 17,000 level.

Reasons for this thought are the volume is going down a little even though right shoulder volume is greater than head and MACD is also crossing over to the down side.

Complete Picture:

Even though we might see a small pullback here, we are on course for longterm pattern target zone of 17000ish.

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Disclaimer:

I am not a financial advisor, nor the information posted in this article is a financial advice. The information in this article is my personal opinion and is not recommended to make any investment transactions based on it. I do not take any responsibility for the investments made based on my analysis.