BTCUSDT
Bitcoin is at it again, setting up for another bullish move. This time, it's an inverse head and shoulders reversal pattern. Watch for the break of the neckline to trigger. It should get us through the downtrend line created by recent consolidation. This move would correspond to a VWAP reclaim (thin blue line) which should trap some shorts. The 15min 50ma is standing in the way, however, so waiting for the breakout here is good form, unless you're already long. Regardless of whether or not this pattern completes, stabilizing above 7000 prior to the opening of futures trading this afternoon is key for BTC to hold the line. Expect some fireworks tonight as bears are forced to quickly cover if it does.
