Bitcoin Rollercoaster: $6000 >> $4000 / $1515 >> $13000 — BTC

Here is an IDEA (!!!) what the BTC rollercoaster could do in the next few months. Please take it with a grain of salt and do not understand it as an investment advice.

Curious about your reactions. Don't forget to like! =)

1. BTC falls out of the big triangle > $6000
2. People buy at $6000 remembering recent history, jump to bottom of triangle > $7000
3. BTC falls gets rejected:
3a. BTC sees support at 1200 EMA > $4000
3b. BTC gets below 1200 EMA > $1515
4. A lot of buying > $7000
5. Rejection at triangle > $6000
6. Breaking IH&S neckline > $7000
7. Reaching IH&S target at 50% retrace > $13000

*** The information provided here is no recommendation to buy or sell. It's just an idea for educational and discussion purposes. ***

Commento:

Looks like we formed the bottom of the left shoulder in case the idea has some validity. We didn't reach $6000 but we went down to $6100 at least.

Commento:

Here is another pattern that I was observing some time back. It's a big head & shoulders formation which also targets $4000. After the neckline was crossed we saw a rapid movement down. Given the RSI is currently quite oversold, also on the daily, we may see a movement up before going down again. That would be in favor of the inverse head & shoulders idea.

Commento:

The recent bull flag has a target of $7160. It will be interesting to see what happens at the bottom of the blue triangle. If we break through it, we have probably a bullish scenario that will reach the top of the triangle. If we get rejected, this idea remains valid.

Commento:

It looks like we're consolidating around the neckline of the big head & shoulders formation. Various failed breakout attempts so far.