According to Gemini's chart if we were to confirm the breakout from the inverse head and shoulders pattern here the target is in the 17k range. Let's hope this validates. The market certainly appears fundamentally ready for this kind of leap. I'm thinking a tight stop loss maybe a pip or 2 below 10.5k would be wise maybe 10290 or so. or it could be safer to place the stop loss a 2 pips below where the CME futures gap is to ensure I don't get stopped out into a bear trap that just shoots right back up after liquidating a bunch of overleveraged longs. It certainly feels like the pattern is going to be validated but we've been here before so I wouldn't be too trusting of that just yet.
Comment:
The fact that Eth has appeared to validate it's inverse head and shoulders makes me think Bitcoin will to as it seems Ethereum is currently leading the market.