Bitcoin Inverse Head and Shoulders
Updated
Could we be prepping for another leg higher? Possibly if this is a valid Inverse Head and Shoulders. Everybody, however, seems to be looking for a major pullback/correction but so far even 10% dips are being aggressively bought up. Why? It may have something to do with the fact that there are ONLY 2.4 Million Bitcoin left to be mined. The Demand is so high right now the daily production of 900 Bitcoin is being bought up by the Big Money. So what does that leave? YOU! Are you going to sell the institutions like Grayscale your Bitcoin position? I'm not. At least not at these prices. And even when the price reaches 6 figures plus I will never sell my entire position. Just enough to do whatever it is I would like to do at the time. :0)
No matter how you play this Bull Market I wish you all the best of luck!
BBS Out!
No matter how you play this Bull Market I wish you all the best of luck!
BBS Out!
Note
If the price breaks below $33,500 the inverse Head and Shoulders idea goes out the window and I'll have to look for a new pattern.Note
That pattern is blown. It has morphed into something else. Still watching....Note
A break out of the top would be really nice. :0)Note
If the price breaks above $33,800 it should go even higher. If it breaks below $32,800 even lower.Trade closed manually
Maybe this falling wedge will pan out better for the bulls. Maybe not, we'll see....Still long. Closing this chart as a fail.
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.