BTC USD 15 min new highs approaching

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Pretty clear setup technically, 70 percent chance imo neckline of the inverse shoulder head shoulder pattern will be broken, and the subsequent target I dare to put around 54K .

I will update short frames going on from here, I needed a fresh entry to do just that. ;)

Under 51400 (except for a pierce and bounce scenario, we know those kind of irritations, it's part of trading/risk management), this ST play is invalid. Then we'll have pierced a minor low and we willl trade under current Bollinger 15. It does not negate the MT bullish timeline however, just this short term setup. Bears need to do a lot to break in, at this moment.
Comment: Getting there, first attack

Comment: We played more of a triangular setup instead of an inverse shs (although very stretched the latter figure still could stand).

Or how you can be 'wrong' and 'right' at the same time. ;-)

Targets are reached, but BTC is still going strong. I would not close on all ST longs.
Comment: New ishs, now neckline, target 61k
15min on Stamp, other exchanges even more clear
Comment: Neckline broken
Comment: Target ishs not reached, not even close. On the contrary, we went under the neckline and then it's always caution. Downwards pressure still in process. Could bottom around here, but I look more below for sweeter spots.

ma50 4h or maybe even below that. In the latter scenario, the scope is that the ma50 will act as a magnet and will be brought back to the bulls.

It all remains to be seen from a zoomed in view with regard to exact entry spots, once we arrive there.

Comment: Quite a nice spot here, nice on the trendline, close to the ma50 4h.


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