magnumv8driver

Inverse H&S on Bitcoin?

Long
BITSTAMP:BTCUSD   Bitcoin
BTC retraced today exactly to the 61.8% fib level, retested the bottom of the parallel channel it is in and if it can push up through the right should of this pattern with increasing volume, the expected target would be in the $5000 to $5300 range, which is the target from the H&S pattern along with hitting exactly at the 161.8% fib extension. Let's see what it does. So far it has played out pretty perfectly.

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