I've gotten in trouble calling these formations before they fully form in the past but here goes nothing. We've formed a potential first shoulder and head of an inverse head and shoulder bullish reversal. If bitcoin retraces to 10k in the coming days and proceeds to push towards the 10.6k level I will be setting a trigger long at the 10.8k zone. Again this is a...
More simple price action analysis. Break below 11.8 looks bearish, while a push above 11.5 could trigger violent price action towards 13.7. Set conditional orders at 11.8(short) and 12.5-6(long) range.
Pretty low risk trade. There's a clear symmetrical triangle forming, with an upwards break confirming inverse head and shoulders and a downwards break invalidating the formation. Set conditional orders at 10.8(short) and 11.9(long) to minimize risk.
Looks like bitcoin is met with resistance at 11450-11500 range. Rejection could trigger a selloff down near 7200. Inverse head and shoulder formation looks bullish for the longer term