Potential Reversal Pattern
Still not confidently bullish
Bullish:
- INV HNS (inverted Head and shoulders) pattern
Right shoulder developing 40k-44k
- RSI shows sloppy reversal divergence
- Major MA resistance at 48-52k, still room to move up.
Bearish
- Sloppy RSI reversal divergence
- Fear and Greed Index back at 50 and climbing fast
- bull target hit 43k, would like some sort of pull back but it’s not necessary.
Because I missed the reversal and I am a bit grumpy, But it wasn’t the cleanest. And makes me somewhat concerned whether this is a dead cat bounce. Either way, break above 45 is bullish. Otherwise the bulls need to hold 40. Would not be surprised to see a cleaner reversal back at 32k or lower, but for now, watch the INVHNS and 40-45k
Bullish:
- INV HNS (inverted Head and shoulders) pattern
Right shoulder developing 40k-44k
- RSI shows sloppy reversal divergence
- Major MA resistance at 48-52k, still room to move up.
Bearish
- Sloppy RSI reversal divergence
- Fear and Greed Index back at 50 and climbing fast
- bull target hit 43k, would like some sort of pull back but it’s not necessary.
Because I missed the reversal and I am a bit grumpy, But it wasn’t the cleanest. And makes me somewhat concerned whether this is a dead cat bounce. Either way, break above 45 is bullish. Otherwise the bulls need to hold 40. Would not be surprised to see a cleaner reversal back at 32k or lower, but for now, watch the INVHNS and 40-45k
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