Downward channel breakout! Where to now?
Updated
BTC has made up it's decision and broke out of it's downward channel with strong buy volume.
It appears that BTC could be forming an inverse head and shoulders pattern along the way. This makes sense as the the right shoulder forms a perfect retest of the previous top trend line. A break above the neckline is a strong buy likely leading us back up into the 12k range.
Trade carefully!
It appears that BTC could be forming an inverse head and shoulders pattern along the way. This makes sense as the the right shoulder forms a perfect retest of the previous top trend line. A break above the neckline is a strong buy likely leading us back up into the 12k range.
Trade carefully!
Comment
Comment
Right shoulder didn't correct as deeply as a I expected, but the IH&S is still absolutely in play. We have broken out and are now retesting the neck line.Disclaimer
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