BTC/USD
Bitcoin is still making the formation of a Head and Shoulders reversal pattern. The neckline has rejected the latest attempt to break it, and we need a confirmation breakout to open long positions after the iHS.
Right now, we can see two different scenarios on the 4H timeframe.
· If the trendline is broken, the first short target is set at 3580$.
· If the trendline can hold and act as a support until a breakout on the neckline, the first long target is set at 5675$
Bitcoin is still making the formation of a Head and Shoulders reversal pattern. The neckline has rejected the latest attempt to break it, and we need a confirmation breakout to open long positions after the iHS.
Right now, we can see two different scenarios on the 4H timeframe.
· If the trendline is broken, the first short target is set at 3580$.
· If the trendline can hold and act as a support until a breakout on the neckline, the first long target is set at 5675$
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Hidden divergences:
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On the other hand, there's a triangle formation (bearish).
Trade stängt: Stopp nått:
Short target reached!
Trade stängt: målet nått