Is Head and Shoulders Bitcoin Pattern Bullish or Bearish?

Example of Head and Shoulders Bitcoin Chart Pattern

Head & Shoulders Bitcoin Chart Pattern is a Bearish Cryptocurrency Pattern - Head and Shoulders Pattern is a Bearish Bitcoin Trading Signal Pattern

Summary:

• This Head & Shoulders Bitcoin Pattern forms after an extended move upwards - bitcoin upwards trend
• This Head & Shoulders Bitcoin Pattern formation indicates that there will be a reversal in btcusd trading market
• This Head & Shoulders Bitcoin Pattern formation resembles a head with shoulders thus its name.
• To draw the neckline we use chart point 1 & point 2 as shown on the cryptocurrency trading example illustrated below. We also extend this line in both directions.
• We sell when bitcoin price breaks-out below neckline: as explained on the cryptocurrency trading example illustrated below.

What Happens to Crypto Price Action After a Head and Shoulders Crypto Chart Pattern in Crypto Trading?

Or the head and shoulders cryptocurrency pattern can also form on a slanting neck line, like the cryptocurrency trading example illustrated below:

What Happens to Crypto Price Action After a Head and Shoulders Crypto Chart Pattern in Crypto Trading?

Example of Head & Shoulders Bitcoin Pattern on a Bitcoin Chart

Analysis of Head and Shoulders Crypto Pattern - Example of Head and Shoulders Crypto Chart Pattern

This Head & Shoulders Bitcoin Pattern can also be formed on a slanting neck line, like the head & shoulders cryptocurrency pattern example above, the neck-line doesn't have to be necessarily horizontal.