CipherR

Btc Head and Shoulders Trend Reversal

Long
BITSTAMP:BTCUSD   Bitcoin
Btc completed the head and shoulders pattern and broke downwards of the wedge formation - both bearish indicators signalling some drawbacks.

However, the market remains in a parabolic bull run. Support line for this indicated in yellow.

A drawback to this trend line would likely see support to fuel further upwards momentum and an opportunity to buy.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.