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Analyze Upward Bitcoin Trend Reversal Signal

Bitcoin Trade Upward Bitcoin Trend Reversal Signal

Head and Shoulders BTCUSD Pattern Reversal Signals

This is a pattern in bitcoin cryptocurrency that shows when an upward trend is likely to change direction: it happens after a long upward trend. It has 3 peaks in a row, called the left shoulder, head, and right shoulder, with 2 small dips between the shoulders.

This Head and Shoulders reversal setup for bitcoin strategies is considered fully formed once the bitcoin price penetrates and closes beneath the neckline, which is conventionally drawn by connecting the two troughs situated between the pattern's shoulders.

This crypto reversal signal sets when Bitcoin price falls under the neckline.

Summary:

  • This Head & shoulders reversal bitcoin strategy pattern setup forms after an extended move upward
  • This reversal bitcoin strategy pattern indicates that there will be a reversal in btcusd market
  • This reversal bitcoin strategy pattern resembles head with shoulders thus its name.
  • To draw the neckline we use cryptocurrency chart bitcoin chart point 1 and bitcoin chart point 2 as shown below. We also extend this line in both directions.
  • We sell when bitcoin price breaks below the neckline: as is explained below:

Head & shoulders reversal bitcoin strategy pattern setup also can form on a sloping neck line, like the crypto example shown below:

Strategy for Reversing an Upward Crypto Trend - Identifying the Head and Shoulders Pattern in BTC/USD Crypto Pairs

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This head and shoulders pattern in Bitcoin can form on a slanted neckline, like the one shown. It does not need to be flat.

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