Possible head & shoulder pattern on BTCEUR on the Daily.
Green line = neckline. Measured distance from head to necline is shown and copied to indicate the target to the downside.
Fib-levels (0.382 up to 0.786) are displayed on the chart for possible targets in case of a short.
First target (based on the H&S), around EU20.500 is in between the 0.500 and the 0.618 Fib.
On the 4H there's a bullish orderblock in that same area.
The 50DMA is also around this level.
Lower targets (possible wicks) are around the 0.786Fib (EU19.000 - EU19500) and the 0.886Fib (Eu18.000 - 18.500)
Green line = neckline. Measured distance from head to necline is shown and copied to indicate the target to the downside.
Fib-levels (0.382 up to 0.786) are displayed on the chart for possible targets in case of a short.
First target (based on the H&S), around EU20.500 is in between the 0.500 and the 0.618 Fib.
On the 4H there's a bullish orderblock in that same area.
The 50DMA is also around this level.
Lower targets (possible wicks) are around the 0.786Fib (EU19.000 - EU19500) and the 0.886Fib (Eu18.000 - 18.500)