BTC SHORT/MID TERM BULLISH INVERSE HEAD AND SHOULDERS SCENARIO
This is the bullish short term scenario for BTC. BTC is currently testing local support of 6400.
Note: My long term bearish scenario is still in play.
- Pattern shows what looks to be an inverse head and shoulders. Neckline to head indicates a rise of $250.
- Critical supports still stand at 6100 and 5800s
- Local resistances are 6400 with critical resistances starting at 6510+.
- Kumo Cloud further confirms critical resistance of 6500+ with bottom of the cloud acting as additional resistance.
- EMA (40) now acts as additional resistance at the 6400 region confirming local resistance.
- RSI showing healthy slope with trajectory running upwards.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
Note: My long term bearish scenario is still in play.
- Pattern shows what looks to be an inverse head and shoulders. Neckline to head indicates a rise of $250.
- Critical supports still stand at 6100 and 5800s
- Local resistances are 6400 with critical resistances starting at 6510+.
- Kumo Cloud further confirms critical resistance of 6500+ with bottom of the cloud acting as additional resistance.
- EMA (40) now acts as additional resistance at the 6400 region confirming local resistance.
- RSI showing healthy slope with trajectory running upwards.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
Comment:
BTC Update: So just found out that there was fake tweets about ETF approval circulating twitter. and FOMO came in. Just know if this is the case, this could very well trail back down and my mid term play of the bear pennant continues.
