TheChartGuys

BTC 4 Hour Potential Inverse Head and Shoulders Pattern

COINBASE:BTCUSD   Bitcoin
BTC bulls showed up to defend support after we broke to a lower low from the daily inside bar.
The move broke the 4 hour lower highs, and now the bulls have their sights set on a higher low and higher high continuation of the attempted trend change.
The daily chart is less clear to me after the bear break of support and upper wick currently on today's candle, so I will stick to the 4 hour chart until this pattern plays out.
If we get the bull follow through, we will turn EMA levels, which have been tough resistance, into support.
The weekly chart continues to tighten, as we patiently wait for a high volume week to indicate a clear break of the range is taking place.
Alt coins still have the attention due to the increased volatility vs. the major names.
While I am very passively trading the space, I am NOT going to sleep on it! There will be significant opportunity here again in 2019 and I absolutely look to take advantage of it. The patience game continues as I wait for the move to come to me!

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