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Long

BTC Inverse H&S + Divergence + Old support + Bullish Hammer

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Follow up on my previous idea;

To further strengthen the bullish case for BTC on top of a confirmed bullish divergence I covered in my previous post it looks like BTC is forming an Inverse H&S with the right should sitting right on top of an ancient support trendline which started forming all the way back when BTC formed a local bottom Nov 11 (the bcash flippening attempt...) proving to be a solid support on all 3 drives down following ATH considering we never went below this support (dotted orange) as can be seen above (in linear chart only). Also spotted a Bullish Hammer that has just finished printing (green arrow). All signs seem to be pointing up, a break above $6640, which completes the inverse H&A pattern gives us a target of $7200 - $7300.

***Not financial advice. Always DYOR***
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