BTCUSD Inverse Heads & Shoulders Forming on Hourly Chart

This is an observation and a possible short-term trade based on breakout above the neckline of the Inverse H&S pattern.

Not financial advice. Please do your own research too and consider other bullish patterns and signals too before deciding on any trades.

Good luck!

Kommentera:

It does look like the inverse heads and shoulders has failed to play out.
However as long as the price doesn't cross the head (around $9120) the pattern may yet surprise us. Here is a inverse H&D pattern that looked like it failed but ultimately recovered at the final moment and went on a huge uptrend. Chart not done by me and this trader @MagicPoopCannon was trying to explain the same thing that its not over till its over. Nothing wrong in waiting for breakout if you are bullish.