Bitcoin Reverse Head and Shoulders Breakout
Updated
This reverse h&s breakout gives me more reason to stay long and add more on a re-test of the neckline which will probably happen after 14000. Note that this formation is 11 months long so will take a while to play out.
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Neckline was retested a few weeks back. On shorter time frames it looks like it's consolidating in 15000 to 16000 range, but on higher time frames there's no reason to be looking for an exit. At 20000 we have the completion of a 2 year old cup and handle with a target at around 36000. In the interim, there will be TD Sequential tops on weekly and monthly time frames in December which optimally would happen at around 17000 to 17400. This might be an area of interest for taking some profit of the table.
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