vcryptic

Inverse Head and Shoulders, 15min, Fibonacci Levels

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Based on the most recent fractal leg, it seems as thought the 15m candles are forming an inverse head and shoulders . obviously this is lower time frame so higher time frames take precedence, but the fib levels are key. if the inverse h&s plays out, we could see a return to .236. currently, maybe range between .382 and .5. if we break resistance at .382 then more likely to see the move up to .236. if resistance holds then likely go back to support at .5. if support holds then we may have seen a local bottom, otherwise we're due for a leg down to maybe .618 before the longer leg up. long term bullish but short term we may see series of bull traps and legs down. apologies for any disorganized thoughts or incoherency
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