JamesDalgety
Long

Short term scenario on BTC. Inverse head and shoulders.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Alright everyone so as per the last analysis we have finally got a small bounce to stop the blood with a $500 green candle on the hourly. Short term play here could be an inverse head and shoulders patter + we have the bullish divergence on the rim quite clearly.

Heres my play

Buying here at a price of $4,585 and stop loss at $4,295.

Target $5,600.

Risk / Reward ratio = 6.3% / 21.5% = 1 / 3.41

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