Get started
ColeOutlaw

UPDATE: SECOND BREAKOUT ON BTC! But is it fake or true this time

Long
Bitcoin (BITSTAMP:BTCUSD)  
ColeOutlaw  
BITSTAMP:BTCUSD   Bitcoin
Chart Patterns Head and Shoulders Pennant BTCUSD Cryptocurrency cryptotrading classicalcharting Bullish Pennant Bitcoin (Cryptocurrency) invertedheadandshoulders
1
0
chartpattern headandshoulders pennant btcusd cryptocurrency cryptotrading classicalcharting bullishpennant bitcoin invertedheadandshoulders
Last time I posted on BTC, Elon Musk put BTC in his bio, causing a spike of around 10%, breaking through the bullish pennant BTC was sitting in. Soon after, BTC retraced back within the bullish pennant, indicating a false breakout. Now we're back above the pennant for a new breakout and it appears we have formed a large inverted H&S as well, the only question is: Will BTC test the resistance line of the pennant and then continue it's bullish trend to higher highs? Or, big OR here, is this another bull trap baiting people to buy another false breakout? Going to be eyeing this like a hawk today to see if we get any confirmation that this is indeed, a true break out. Best of luck everyone!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.