Inverse h&s could have a long right shoulder

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
343 3 6
Taking a look back in time, we see that the h&s at $683 played out like it was supposed to and we have established a long downtrend since then. The current downtrend is simply too steep with seemingly nothing driving it. That said, we have to give the right shoulder time to play out since it is gathering steam to break this downtrend.
I hope you're right but i have my doubts ...
I'm pretty confident in this so I have picked up a small long position already. If it goes down, I think I'll panic hold since I don't believe this trend can continue below the 400s.
+1 Reply
BTC_Daily.Pips MoonTrader
I also believe under 400 is to be excluded, but with low volumes, I prefer to stay out...
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