i-am-mr-sam

Seems the BTC Inverse H&S is taking shape

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi mates,

A clear look at a linear chart, there is a prospective Inverse H&S pattern signal, after the right shoulder price dropped below sub $6200, while the left shoulder price make a
U-turn @ $6244.

But we can't call this an Inverse H&S yet until, until price hit $6800.

Likewise, the chart posses all the characteristics of a good Inverse H&S , we just need to break the neckline for pattern confirmation

One thing that will make this Inverse H&S interesting is the slant neckline after $6829, because patterns with down-sloping necklines perform better.

Also, the downward volume trend will bring about best post break out performance.

If Inverse H&S gets confirmed, BTC may rise back $7800, but remember we need to get $6800 before setting our eyes on the Inverse H&S target.


Good luck!

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