maxf99

Potential Inverse H&S

COINBASE:BTCUSD   Bitcoin
I've gotten in trouble calling these formations before they fully form in the past but here goes nothing. We've formed a potential first shoulder and head of an inverse head and shoulder bullish reversal. If bitcoin retraces to 10k in the coming days and proceeds to push towards the 10.6k level I will be setting a trigger long at the 10.8k zone. Again this is a big if especially cus the final shoulder hasn't even formed yet but it could be a solid opportunity. Target profit zone would be around 12k, but I would definitely set a trailing stop loss with 8.5 and 7.2k still lingering in everyone's mind. All that FUD needs to be liquidated before we can actually move to those zones though, making this a great narrative for a scalp long. Set some extremely conservative take profits if this plays out though, and remember not to place any longs/long orders of any kind until this formation plays out.
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