Bitcoin (BTC) Morning Update: Head & Shoulders Combo

SUMMARY

Bitcoin (BTC) overnight price action is showing a pattern that is very similar to that of Ethereum (ETH). It's quite apparent that many holders of BTC are holders of ETH. Such is the reason of the "Uniformity of Sentiment". The Left Shoulder (LS), Head (H) and Right Shoulder (RS) are drawing out the potential for $14,100 (not labeled in chart below). That combined with the currently forming Ascending Right Triangle, the target could be $14,729. The MACD is also supporting the patterns as the 12 day average blue line crossed above the 26 day moving average red line. Let's see how the day time price action performs.

Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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