Bitcoin bottom established
Updated
Bitcoin has marked its bottom for 2018 at 3k and is setting up for an inverse head and shoulders reversal. Target for the move is 4.8k - 5k for a bullish reversal. High time frame traders have already noted the various buy signals. Oscillators on the monthly and weekly scale are oversold with a clear daily divergence.
Bull signals:
SRSI: M / W : Oversold
Ichimoku: Daily c clamp, 12hr edge to edge move
LTCUSD Break out of inverse head and shoulders (leading indicator for btcusd movement)
BTCUSD inverse head and shoulders setup with descending volume profile
Bull signals:
SRSI: M / W : Oversold
Ichimoku: Daily c clamp, 12hr edge to edge move
LTCUSD Break out of inverse head and shoulders (leading indicator for btcusd movement)
BTCUSD inverse head and shoulders setup with descending volume profile
Trade closed: stop reached
STOP hit, trade invalidated. Seems that longs were near all time highs and there wasn't enough interest to break the neckline. Shorts are starting to pile in.
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