BitcoinUpdated BTCUSD - Breakout
BTCUSD recently broke out of a symmertrical triangle and now things are lining up to complete a Inverse Head and Shoulders Pattern.
My last post was a long call for an Adam and Eve pattern. If this Inverse Head and Shoulders pattern is completed, the breakout potential would push BTCUSD through the Adam and Eve "neckline." A lot of things are beginning to line up right now and the long term potential looks very strong. The RSI has also recently broke 60 on the 1 day interval, and the MACD flipped a U-turn and is heading back towards the center-line. Its all bullish.
My last post was a long call for an Adam and Eve pattern. If this Inverse Head and Shoulders pattern is completed, the breakout potential would push BTCUSD through the Adam and Eve "neckline." A lot of things are beginning to line up right now and the long term potential looks very strong. The RSI has also recently broke 60 on the 1 day interval, and the MACD flipped a U-turn and is heading back towards the center-line. Its all bullish.
Note
Would look for a full 4 hour candle to close above 10,000 before calling the breakout official. A brief breakout and fall back could occur, so wait for it to be official.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.