Charts tell us always the probabilities and the charts are telling us now that short term low of BTC has been formed after touching the previous cycle's ATH around 18000$.
Inverse head and shoulders pattern breakout has occured.
Positive divergence of RSI
Overall, this makes the probabilities of a rally very high.
SL in BTC should be the confirmation below the neckline of the inverse head and shoulders pattern. So confirmation below 20k$.
Target around 25.5$
Inverse head and shoulders pattern breakout has occured.
Positive divergence of RSI
Overall, this makes the probabilities of a rally very high.
SL in BTC should be the confirmation below the neckline of the inverse head and shoulders pattern. So confirmation below 20k$.
Target around 25.5$
Trade active:
Head and shoulders is slightly modified but still in play. Updated trade idea below. Target and SL remain the same
Trade closed manually:
Bitcoin can retest the 17xxx $ range for a double bottom. Seeing the risk, I would close all my positions related to bitcoin long
