Potential inverse H&S forming on BTC
Updated
Hi all, BTC has been firmly rejected at the ~12k level.
What we have seen to this point is a sharp 0.5 retrace. Buyers have not shown up to play so there is a strong chance we continue to retrace to the 0.618 or 0.786 level.
We may see an inverse head and shoulder pattern form along the way.
I will likely go long from 10300-10600 with a stop loss at 9650.
What we have seen to this point is a sharp 0.5 retrace. Buyers have not shown up to play so there is a strong chance we continue to retrace to the 0.618 or 0.786 level.
We may see an inverse head and shoulder pattern form along the way.
I will likely go long from 10300-10600 with a stop loss at 9650.
Note
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