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OrigamiOracle

Head and Shoulders

Short
Bitcoin (BITMEX:XBTUSD.P)  
OrigamiOracle Updated   
BITMEX:XBTUSD.P   Bitcoin
Head and Shoulders Fibonacci Supply and Demand
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headandshoulders fibonacci supplyanddemand
Potential Head and Shoulders formation with bearish volume bias. Right shoulder presents short entry opportunity at local supply zone (red box). Stop loss should be placed above the head as this would invalidate the pattern. Target is at long term point of control (highest volume traded; 8500):

Side: Short
Entry: 11589.0
Stop Loss: 12601.0
Target: 8501.0
RR(BTC): 4.42
RR(USD): 3.05
Order cancelled

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