deadremains

Bitcoin Inverse H&S Update

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Morning chaps!

As you can see from the most recent candle close (right on the sloping neckline), we're starting to form a fairly textbook inverse H&S .

Buying volume has increased but we've still got the 50 EMA (in orange) closing in as overhead resistance.

Closing above the neckline, blue horizontal resistance and 50 EMA will confirm my current bias.

To summarise: I'm cautiously awaiting a bounce or resistance/support flip before pulling the trigger.

That's all for now peeps!

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In the words of Carter Thomas "None of this is professional advice, just a random dude on the internet giving his opinion" :D