Simplified BTC TA. We have a parallel channel and a downtrend line. We have been recovering from sub 6k ever since breaking below the channel. This was followed by many hard bounces and fomos. Eventually we made it to the top of the descending trend line and failed to break out. Price action has been decreasing ever since. I expect BTC drop down to the bottom the channel and bounce up to the resistance line and breaking out. This will form a large inverse head and shoulders. This Inverse H&S can take us to 17k where we might reject, if we do not reject, open target.
Comment
⋅
Spot on so far, lets see if we can break the resistance now, if not we will reject, come down a bit, and then retest shortly after.
Comment
⋅
Failed to break again, we could come back down to 9500 before retesting.