SilverTrader925
Long

BUY Bitcoin Inverse Head & Shoulders

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has broken its down trend and has now formed an inverse head and shoulders .

I would buy a break of the neckline around 9018.

I would target the 61.8 fibs retracement of the whole move this coincides perfectly with a major support/resistance zone at the whole number 13,000
Comment: The trade is moving nicely in our direction, it may now retest the neckline with some profit taking which is normal. We will keep an eye on the candlesticks for market sentiment.
Comment: The price has retested the 38.2 fibs level and strong support zone with a rejection candle, strong bull signal.

Bought at $9230. Target: $12.995
+1 Reply
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