Bitcoin is once again knocking at the door of $5k.
Most of the commentary is on the chart but we now also have a clear inverse head and shoulders bottom.
There may be volatility ahead - the bulls must flip previous resistance now into support and attempt to stay about across the $4055 at finex ($3950 everywhere else).
A failure here will likely see us backtest the 50% / 61.8% fibs c.3600s but i see the risk being for the bears to the upside.
Bullish.
I am reposing this chart as it was blocked by Tradingview last week because i linked to my twitter account.
Drop it a like if you want to support my work.
Cheers
Most of the commentary is on the chart but we now also have a clear inverse head and shoulders bottom.
There may be volatility ahead - the bulls must flip previous resistance now into support and attempt to stay about across the $4055 at finex ($3950 everywhere else).
A failure here will likely see us backtest the 50% / 61.8% fibs c.3600s but i see the risk being for the bears to the upside.
Bullish.
I am reposing this chart as it was blocked by Tradingview last week because i linked to my twitter account.
Drop it a like if you want to support my work.
Cheers
Trade closed: stop reached:
Et voila
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Follow on Twitter @filbfilb
