Bitcoin setting up for an inverse head and shoulders?
Just looking at the chart of Bitcoin, it could be setting up for an inverse head and shoulders for a short term bounce.. It would have to break the neckline around 4100-4200..
I've positioned myself early in GBTC at 4.37 with my outs being around 4.16 and 3.84.. My target would be for a gap fill around 6 or close to 6.. Kind of a long shot, so I'm not really calling this trade out with much confidence until the right shoulder of Bitcoin reaches the neckline and breaks it.. But as of now with my price points, it is a relatively low risk trade.. Thank you..
I've positioned myself early in GBTC at 4.37 with my outs being around 4.16 and 3.84.. My target would be for a gap fill around 6 or close to 6.. Kind of a long shot, so I'm not really calling this trade out with much confidence until the right shoulder of Bitcoin reaches the neckline and breaks it.. But as of now with my price points, it is a relatively low risk trade.. Thank you..
Comment:
Looks like I couldn't have been more wrong haha.. I'll be looking to get out on Monday when the market opens.. Just hope it doesn't gap down too much below my exit prices..