DrDovetail

3hr inv h&s in play

Long
COINBASE:BTCUSD   Bitcoin
We are currently still making our way towards the falling wedge's breakout target at around 11040 and in doing so we have started to form an inverted head and shoulder pattern which if validated has a price target around 12450. There is a good possibility we could validate both patterns and reach 12450-12500 but there's also the good probability that we could only hit the falling wedge target via an inv h&s fakeout breakout. We could also very likely fill the CME gap at 11.2k and still have an inv h&s fakeout so we must keep that in mind. Lastly, we could even not even break above the inv h&s neckline before a fakeout is confirmed and we had back down. All of these outcomes are possible and must be kept in mind to ensure we make the right decision on this next move, For now until it chooses one of those paths my sentiment is long.
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