BitcoinLong
Bitcoin faked a head and shoulders
Updated
What looked like a head & shoulders pattern but instead of breaking down it went the complete opposite direction.
Yes, some say this is not a H&S but even so, there was weakness - both in price and daily RSI forming lower highs and lower lows.
There is a fake breakdown there at the neck of the H&S and suddenly whiplashed and went higher fast and quick and formed higher highs and higher lows.
Mid-term bullish and keeping an eye on Fibonacci levels (from recent drop) as key areas of take profit or scale ups.
Yes, some say this is not a H&S but even so, there was weakness - both in price and daily RSI forming lower highs and lower lows.
There is a fake breakdown there at the neck of the H&S and suddenly whiplashed and went higher fast and quick and formed higher highs and higher lows.
Mid-term bullish and keeping an eye on Fibonacci levels (from recent drop) as key areas of take profit or scale ups.
Trade active
touched the 618 fibonacci level so there might be some consolidation here but when BTC is strong, it's strong so might just cut through that level. nevertheless trade is still on barring small corrections here and there
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