DECRED (DCR) Update: A Second Bearish Head & Shoulders?
A comment was made on Decred by a reader who thought there might be a second H&S Bearish pattern developing.
The Blue lettered one is a confirmed H&S Top; but what about the red labeled one? From the price pattern, it looks to have a Left Shoulder and a Head and Right Shoulder. How to know? The key is to look at volume. The volume too should have the same pattern where the Head's volume should be highest. That is the case for the blue labeled H&S pattern but not for the pink labeled pattern. So my prior analysis still is in effect.
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.
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