Potential Inverse Head & Shoulders 1hr timeframe

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Clearly you would want to see the pattern complete for confirmation and it's always difficult to wait for that (but necessary!), but with bulls holding the line the last 24hrs and after the ETF FUD, there's is a chance!

Forming this pattern would require that we break from the broadening formation that has been descending over the last few days. That makes it less likely to complete, but still worth being aware of.

MACD is aligned so supports the bullish case on the hourly and could potentially produce a bullish divergence on the 4hr charts.

Time will tell and we shall see! Watch with caution!!


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