TradingRange

BTC - inverse Head and shoulders, they can push it to 7550

Long
COINBASE:BTCUSD   Bitcoin
Here is a possibility of inverted H&S for BTC. What we want to see is a strong volume on right shoulder break out. I dont see it still there, but RSI is extremely oversold so little rest is needed for now. And may be after we push through our swing high resistance that will cause some fomo and we can see enough volume to confirm this pattern. 7753 is a strong resistance for me, that i dont believe we can pass. We have a monthly close today and weekly tomorrow. The market is exhausted and recent Okex fud caused us to dip more than it should be. But we are definitely still in a bearish trend and this is only a bull trap on the way down. Lets see how this play out. Stay safe and happy trading.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.