$BTC - Inverse H&S Pump to $5200; Dump to $4800; Free fall?
Updated
Clear inverse head & shoulders forming, should break up to $5200. IF we can hold that level & grind up to $5300 the bullish movement will continue.
If we cannot clear & hold $5200 within the next 24 hours price will likely dump to $4800 leading to an eminent free fall to where we started.
Overall I am leaning towards opening a low leverage short somewhere between $5100-5200.
If we cannot clear & hold $5200 within the next 24 hours price will likely dump to $4800 leading to an eminent free fall to where we started.
Overall I am leaning towards opening a low leverage short somewhere between $5100-5200.
Note
Inverse head & shoulders failed to form. Sideways movement at this level should break down to the $4775-4800 level. The short play is looking better & better!
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