BITCOIN BTC Now 3 active inverted head and shoulder formations!

Dear traders,

Here the 30 minute chart of Bitcoin. Bitcoin is still trapped between 51724 and 60703 USD but we now have formed 3 active inverted head and shoulder formations. Interesting to see how that develops.

These patterns have as targets 61500, 65000 and 68700.

Look at my previous Bitcoin analysis for important support and resistance levels.

This is my personal take on Bitcoin and not investment advice. Always do your own research before trading and apply stops and money management fro safeguarding your capital!

Comment:

A premature re-test of the small head and shoulders formation!
Volume is helping with this break trough the neckline!

Comment:

Traders Bitcoin touched the neckline of the bigger inverted H-S formations.
Keep a close eye on it and verify volume when it breaks above the line.

Comment:

Traders if Bitcoin is not following the inverted Head and shoulders as on this chart and goes down that will almost sure trigger a downwave.
Please check my important levels post on Bitcoin. You see also the very important bigger time frame head and shoulders in BTC. IT could happen easely!
Use stops traders!
Happy trading!

Comment:

Click on the chart for the actual situation of Bitcoin head and shoulders longer term view!

Comment:

Traders if the neckline of the inverted H-S patterns will not be broken than we will probably see a counter move down. As you probably know, failed H-S patterns are perfect to trade as well as the H-S patters which do not fail and work as expected.