BITCOIN Channel Up and Head and Shoulders = combo for a rally?


Fractal B is replicating the waves of Fractal A almost religiously. What’s interesting, is that the price action since August 03 has formed a Head and Shoulders pattern and this has given me the following idea.

I looked more into the price action since the March recovery and discovered that (roughly) similar Head and Shoulders (H&S) pattern have formed inside the Channel Up. In fact after every H&S, an aggressive rally follows. Interestingly enough, we may have a new Channel Up (B) emerging after the 2nd H&S formation. It remains to be seen if the current H&S will also create a new pattern after its (expected) rally.

So do you think the current Head and Shoulders pattern will hold (and as a result Channel A) or it will break slightly lower to the Higher Low trend-line of Channel B? Feel free to share your work and let me know in the comments section!

Please like, subscribe and share your ideas and charts with the community!

!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!

Tradingview link:

Add a comment