mdyassink

BTCUSD INV H&S Breakout Possible Trade Opportunity

Long
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
BTCUSD seems to be in the midst of forming an Inverse Heads and Shoulders pattern which can be seen both on the hourly and 4 hourly chart with a target after breakout of 48000$.

Wait for the breakout with at least an hourly candle or 4hourly candle close above the resistance neckline. Beware of fakeouts.

This is after it broke out of a falling wedge pattern which in this case was a possible reversal pattern from the recent dump.


Trade only what you can afford to lose as nothing is 100%, ever.

Just sharing an observation.

Good luck!