BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is currently ranging within its support level .

A break from here and we can expect a possible print of a Inverse Head and Shoulders structure.

A confirmation of this pattern will lead Bitcoin towards the $6,700 USD range as well as a possible target of $7,000.

If BItcoin fails to uphold both support levels it is highly likely we will re-test our lows within the $6,000-$6,100 range before we can assume a bearish leg down into the $5,500 USD range.

Happy trading

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Comment:
Comment: Here is our route depicted with arrows traders.

Remember this is our Bull Scenario

Comment: Our current group trade setup - Long

Analysis is going well, now we wait to see if our Right Shoulder forms.

Comment: Looking to close within the white box. A clear break above and we will see $7,200 USD. Over $500 USD per Bitcoin in Profit. VIP info is inside our telegram

Trade closed: target reached: $6,700 reached. Great trade! Profits all around!

We must break our neckline to confirm a push towards $7,200

Our longs are currently closed for a $500 USD profit

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