DrDovetail

Potential H&S on btcusd 1day chart nothing to worry about yet

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Things are looking bullish again for btc but we must also keep in mind that this 1 day chart H&S pattern is still very much in play and although it's not something to be too concerned about just yet it's wise to keep a close eye on it. If we can see priceaction rise above the head we can then invalidate it but for now it's very much in play.
Comment: On the bullish side of things there is an inverted head and shoulder pattern on the 4 hr chart(not shown here) that is much further along than this 1 day pattern. it is nearing the neckline now...I will do another idea update following this one that shows it.

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