This is an update to my previous idea about 2 potential Inverse Head & Shoulders patterns:
It looks like we have the start of a breakout above the neckline of the smaller yellow Inverse H&S. It's oscillated around the neckline for a little bit so we'll have to see if it sticks - if it does, see the chart for potential targets.
Watch for resistance around the potential neckline for the larger Inverse H&S. It's always possible for the neckline to be on an angle so it could reverse anywhere in the mid $1100's.
I've revised the chart I used previously with updated targets and reduced clutter.
There is a lot of uncertainty around bitcoin lately so it's felt very unpredictable, so as always be careful!
It looks like we have the start of a breakout above the neckline of the smaller yellow Inverse H&S. It's oscillated around the neckline for a little bit so we'll have to see if it sticks - if it does, see the chart for potential targets.
Watch for resistance around the potential neckline for the larger Inverse H&S. It's always possible for the neckline to be on an angle so it could reverse anywhere in the mid $1100's.
I've revised the chart I used previously with updated targets and reduced clutter.
There is a lot of uncertainty around bitcoin lately so it's felt very unpredictable, so as always be careful!
