1- The head and shoulders pattern is not yet fully formed (Personally: I expect scenario No 2). 2- In my opinion, there are still 4 hours left to a possible sharp movement. 3- We have to see if we can get support at 56k. If it falls below 56k a Stop Loss is required. 4- If scenario No 3-----> all altcoins are expected to fall again.
If support -----> High and higher. Did you like the 29 Mar idea about Dogecoin?
Are you ready ????
Below 57000 $ it's possible to see (weak) resistance. In my opinion, The period of 26-25 March, showed the reliability of the different analysis!
Analysis 2014-2021 is added in the update.
22:50 Uk time. 1000$ jump was observed. 1000 $ jump in 1 minute! I marked the candle in the diagram. Check with a time interval of 1 minute!
We are at the beginning of wave 5 Look at CCI. * (While (4 hours candle) BTC is up to 52k $, this pattern is valid).
Based on Elliott Wave Theory, Wave 4 does not overlap with the price territory of wave 1, therefore, You can't buy again at this price! Bullish!
In my opinion, Dogecoin is checking the green resistance line! This unusual behavior is due to the random fluctuations of bitcoin. Bitcoin is entering wave 5 (Elliott wave), and Dodge is forced to increase its price!
Dear friends, It's not a head and shoulders pattern! The right side of the Neckline shall be completed (only) below the 51k! Now it's BULLISH