Cryptopile

Bitcoin Inverse H & S, can it materialise

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi traders

Inverse H & S formed. Lets see if it will hold.

Neckline - watch for retest bounce. Target 11,100

Option 1
Breaks through the neckline it will be subwave 3 commencing and we are currently in completion of wave c of subwave 2

Option 2
Bounce off neckline indicates completion of bear market truncation reversal pattern which will end up being subwave 3 impulse upward.

Option 3

Proceeding without going back to retest neckline, be careful of a bull trap (will be option 1 in disguise). Needs further retracement at this level to validate first wave.

Only for educational not intended as trading advice.

Chur
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