Bitcoin Inverse H&S Update - Failed Breakout!
Updated
Good evening chaps!
While the majority of us were waiting on a breakout from the neckline, BTC tripped and bumped it's head. (And that's exactly why you don't pull the trigger without confirmation first).
Looking a little closer on the 4h chart, we can see a bear flag forming. With shorts stacked fairly low at the moment, we would really need to see some increased sell volume before it's 'all aboard the short train'.
Still though, the overhead resistance, lower highs and lower lows should be more than enough to remind you that "the trend is your friend'".
I'm keeping my eyes peeled for a quick scalp setup, but remain on the sidelines until the volume picks up.
Watch the story play out first before taking any big risks.
Ta ta for now!
---
In the words of Carter Thomas "None of this is professional advice, just a random dude on the internet giving his opinion" :D
While the majority of us were waiting on a breakout from the neckline, BTC tripped and bumped it's head. (And that's exactly why you don't pull the trigger without confirmation first).
Looking a little closer on the 4h chart, we can see a bear flag forming. With shorts stacked fairly low at the moment, we would really need to see some increased sell volume before it's 'all aboard the short train'.
Still though, the overhead resistance, lower highs and lower lows should be more than enough to remind you that "the trend is your friend'".
I'm keeping my eyes peeled for a quick scalp setup, but remain on the sidelines until the volume picks up.
Watch the story play out first before taking any big risks.
Ta ta for now!
---
In the words of Carter Thomas "None of this is professional advice, just a random dude on the internet giving his opinion" :D
Trade active
Full steam ahead!
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