As you can see on the chart, there appears to be an inverse head and shoulders pattern that has formed. It has now been followed by two bars mirroring each other to the point that I would think it to be a reversal to turn into a down trend. I'm definitely gonna sit this one out, but what do you think? False inverse head and shoulders or a false two bar reversal?...
Waiting for more accumulation to come and a false break of recent lows , then enter long where first TP will be 1345 zone and ultimate target will be 1400 zone.
*We might get another smaller bullish h&s pattern before the rise.
Best of luck :-)
BTCUSD is in a strong uptrend and formed a small h&s pattern relative to the trend (soon will be complited).
My idea is to wait for more lows to be created near the channel bottom and buy after a false break down near the 6800 zone, hopefully price will rise to the 8000 zone.
Everything is marked on the chart.
Best of luck :-)
