Yesterday I read someone's comment somewhere on the Internet, he was saying how more the time passes more this looks like a failed head and shoulder. And after a bit of reflection on it I kinda agree with him, if you think about it everyone was waiting 100k as something sure, almost written on the chart 🤣 And maybe because of this exact reason it never went to 100k! Now everyone is saying H&S since months and the bearish trend is becoming normality (and I believe we already had 2 paradigms shifts and people don't really know what is going on at the moment) 😄 20k is almost as sure as it was 100k, is it tho? The price has been trading in this range for almost 3 months now
Just my 2 cents 😄
Great post and brilliant analysis as always.
I thought about this as well and indeed the market is a reflection of human psychology so it is always a possibility. But I don't think the H&S pattern failed. In fact as I highlighted in the post it was rather confirmed by the rejection of the former support seen here
I remain "optimistic" about this rejection due to the other factors ;) but yeah, at the end of the day nobody knows (except if you name is Elon maybe)
I thought about this as well and indeed the market is a reflection of human psychology so it is always a possibility. But I don't think the H&S pattern failed. In fact as I highlighted in the post it was confirmed by the rejection of the former support seen here