Leb_Crypto

Bitcoin: Inverse H&S forming for a double top target @ 13.8k?!

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Hi everyone,

Although I am still bearish and expecting $8.5-9k levels for the end of this correction, I am seeing the formation of a "potential" inverse head and shoulders on the 4 hr chart, which is bullish for bitcoin in the short term.

IFF this pattern plays out, and Bitcoin actually breaks bullish from the neckline of this Inv . H&S , then the target is almost exactly the previous 2019 high of Bitcoin @ around $13.8k. This can be quite bearish if it ends up double topping there, creating a macro double top , where the real 40-45% correction begins. OR, this previous high may be broken and $16-20k targets become more likely in the short -to-medium term.

P.S. Remember, as traders we have to be open to all possibilities. Also remember that all TA and patterns are NOT confirmed until after breakout - otherwise it's invalidated.

Cheers,
Leb Crypto
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Amazing content mate keep it up :)
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Leb_Crypto DACapitalTrading
@DACapitalTrading, cheers mate!
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