BTC update - TREND REVERSAL? - inverted H&S pattern forming
- BTC is possibly forming a inverted head&shoulders pattern. If BTC can complete it I expect a mid-long term bullish sentiment again. Originally it would mean a trend reversal! -
This could happen
I think we might see a drop to the $6000-6400 area. If we see some bullish candles afterwards and we manage to break the 'neckline', I'll be completely bullish on BTC. The neckline resistance is around $6750.
Ofcourse it's impossible to predict BTC or any other coin. This is a possible scenario and it seems to me the most logical outcome. I'll be trading on this. Layering between the $6000-6400 area. I came out at $6725 expecting a correction.
This could happen
I think we might see a drop to the $6000-6400 area. If we see some bullish candles afterwards and we manage to break the 'neckline', I'll be completely bullish on BTC. The neckline resistance is around $6750.
Ofcourse it's impossible to predict BTC or any other coin. This is a possible scenario and it seems to me the most logical outcome. I'll be trading on this. Layering between the $6000-6400 area. I came out at $6725 expecting a correction.
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