Inverse head and shoulders about to complete on BITCOIN 4H chart

If this head and shoulders pattern completes (breakout) we will also have ichimoku confluencing with the breakout as it will break kumo cloud at the same time. It is also worth noticing that on the last shoulder we had a bounce from kijun-sen which makes that point more clear of a resistance point. For a long entry I would purchase after kumo breakout or when price retraces to kumo buy as it will be expected to be support.

Note

stop loss below last shoulder

Note

formation has completed, the final shoulder was a bit wider than I expected, BTC did not break out of the reverse H&S the moment I published this.

Honestcowboy

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Honestcowboy

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