BITCOIN: INVERSE HEAD & SHOULDER.
Updated
Hello traders, welcome to my new BTC update.
Timeframe: 4 hours.
Description: Bitcoin is a digital currency which operates free of any central control or the oversight of banks or governments. Instead it relies on peer-to-peer software and cryptography.
Update: BTC has currently formed an inverse H&S pattern in a lower timeframe. Technically, an inverse H&S pattern is a bullish pattern and if BTC manages to break through this pattern then we can expect a higher rally on BTC. A rejection below this trendline will invalidate the inverse H&S pattern.
Trade Setup: Buying at breakout and retest will be a better option if you guys are trying to enter into BTC. Best entry levels will be between 20.8k to 21k. Targets will be 22.6k to 24.3k and Stop Loss at 19.5k.
Note: Do not FOMO, buy only at confirmation.
Let me know what's your idea on BTC in the comments.
Thank you.
Timeframe: 4 hours.
Description: Bitcoin is a digital currency which operates free of any central control or the oversight of banks or governments. Instead it relies on peer-to-peer software and cryptography.
Update: BTC has currently formed an inverse H&S pattern in a lower timeframe. Technically, an inverse H&S pattern is a bullish pattern and if BTC manages to break through this pattern then we can expect a higher rally on BTC. A rejection below this trendline will invalidate the inverse H&S pattern.
Trade Setup: Buying at breakout and retest will be a better option if you guys are trying to enter into BTC. Best entry levels will be between 20.8k to 21k. Targets will be 22.6k to 24.3k and Stop Loss at 19.5k.
Note: Do not FOMO, buy only at confirmation.
Let me know what's your idea on BTC in the comments.
Thank you.
Trade active
BTC Update:
BTC is moving as expected, it broke out, did some retest, and currently bouncing back. The only thing I am skeptical about is the volume. The price of BTC is increasing but there’s not enough volume to boost BTC. BTC has been hovering between 20k to 21.3k for the last 24 hours, it must break this range soon. Break down will surely invalidate this chart and breaking update will try to hit the said target (22.6k to 24.3k).
Good hours ahead, amigos.
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