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Published 3 years ago

This classic trading pattern signaled that Bitcoin price had hit a top

Summary by Ground News
The H&S pattern forms after a bull phase and indicates that a reversal may be around the corner. The formation consists of a head, a left shoulder, a right shoulder, and a distinct neckline. When the pattern completes, the trend usually reverses direction. Sometimes, after the breakdown, the price retests the breakdown level from the neckline but when the momentum is strong the retest may not happen.

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