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Monday, September 7, 2020

H&S or End Year Impulse?

H&S or End Year Impulse?

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Two possibilities: either a U shaped recovery along the current support trendline to the upside, which will eventually test the 20k resistance, or a H&S pattern forming into the downside, to repeat end year 2018 and 2019, into the 6k region. Personally, I would think it's downside for now. The crypto market seriously needs to recover from the overbought state.



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