BitcoinLong
Bitcoin Inverse H&S to $5200?
Updated
Bitcoin has formed a H&S structure which has the potential of reaching the ~$5200 level.
Watch for a break out of the red + blue trendlines and the prime time to enter would be a retest of the broken trend.
It is possible that this structure will be invalidated due to the very strong downwards trendline which was recently rejected, but we have to consider all possibilities.
Watch for a break out of the red + blue trendlines and the prime time to enter would be a retest of the broken trend.
It is possible that this structure will be invalidated due to the very strong downwards trendline which was recently rejected, but we have to consider all possibilities.
Trade active
Retested broken trend line. Possible target is as high as 5200, but we will see many resistances on the way.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.