Bitcoin has formed a H&S structure which has the potential of reaching the ~$5200 level.
Watch for a break out of the red + blue trendlines and the prime time to enter would be a retest of the broken trend.
It is possible that this structure will be invalidated due to the very strong downwards trendline which was recently rejected, but we have to consider all possibilities.
Watch for a break out of the red + blue trendlines and the prime time to enter would be a retest of the broken trend.
It is possible that this structure will be invalidated due to the very strong downwards trendline which was recently rejected, but we have to consider all possibilities.
Trade active:
Retested broken trend line. Possible target is as high as 5200, but we will see many resistances on the way.
