InvestingScope
Long

BTCUSD: Inverted H&S symmetry points to 8,000.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin made a bottom on November 25th at 6,515 and is on an extended rebound since with 4H turning bullish again ( RSI = 59.215, Highs/Lows = 205.5661, CCI = 110.4245). What is more striking is the impressive symmetry of the candle action as the pattern that emerged is an Inverted Head and Shoulders . The neckline is completed within 8,070 - 8,235 and this is our Target Zone for the short term. *note: The price is above the 4H MA50 again, which is holding so far.






** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (http://www.investingscope.com).
so did this miss or is it still active?
Reply
I have seen other examples like this, but it may be hopeful. For a true inverted H&S, the shoulders would be below the head section (upside down). In this example the shoulders havent moved, they are above the upside head and neck line. Maybe it will play out, but is that a true inverted pattern? Looks partially inverted from here.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out