BitcoinUpdated Updated inverse head and shoulders.
We might still see an inverse head and shoulders. Getting close to it!
If bulls are able to get a 4h close above 8.5 (0.5fib) and above the 50MA that could set it back up to 9.1-9.3k
I opened a long on the break of the descending triangle. Took 75% of my position and will add to that position when they get a close above 50MA and 0.5fib
If this happens and we moonshot back up...
I’ll swap my long to short with from 9.3k with low leverage
If bulls are able to get a 4h close above 8.5 (0.5fib) and above the 50MA that could set it back up to 9.1-9.3k
I opened a long on the break of the descending triangle. Took 75% of my position and will add to that position when they get a close above 50MA and 0.5fib
If this happens and we moonshot back up...
I’ll swap my long to short with from 9.3k with low leverage
Note
Long is closed, BTC hit break out point from previous descending triangle..Also the inverse H&S is not in play anymore for me...
A lot of down pressure looks like we are forming a downwards channel..
Maybe an descending triangle again towards the 100MA on weekly timeframe..
I am waiting with getting into position because I am not 100% sure where btc wants to go to..
Only scalping now.. until we break 100MA or if we break the downwards resistance again. No point to stay in longer term trades for now
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