Long

BTC Ready To Turn Around?

Updated

This is not financial advice. If we can hang onto our low and break up and out of this falling wedge we could be looking at a potential Inverse H&S. I'm personally not betting big on this play yet, but if we start working our way back to the neckline I'll feel more confident in the possibility.

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Closer look at the right shoulder

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Close up of the right shoulder formation. Little bit larger of a pullback than I would have liked but nothing to worry about yet. So long we hold the dotted white line we're on track to move up.

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mini inverse H&S was broken, but no major confirmation below the line. Fake breakdown? Large inverse H&S still perfectly on track.

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As soon as we confirm an hour above this line I think a retest of $7600 is coming. Both of those things could happen in the same hour though.

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I'd like to see us confirm a daily candlestick over the white resistance line with the Inverse H&S move we're following.

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Still watching this. Realistically anything above $6428 could be the right shoulder forming. I think people are stuck between watching the shoulders I was, or watching the dip to $6500 as the left shoulder. Which would explain why we started to round out our right shoulder but failed and dumped to $6870.

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Here's a visual representing what I mean by my last comment/update. Possible? you tell me but that's what I think is happening.

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All the areas I'm watching. A daily confirm over the highest line will be an extremely bullish indication. We've moved above that line before, but we've never confirmed a daily candlestick above it.

Dtradess

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