Everyone is shook from all the fakeouts, shakeouts, and false indicators these past few weeks.. not to mention the plethora of bearish news every other day.
BUT, there are some good signs, one being that Bitcoin will go up, because that's just how it is... you drop a few times, you shake people out, they give up, and then you bounce to retest previous resistance levels. This is a lower timeframe position so take caution on what occurs, but if we are able to break the neckline of the inverse Head & Shoulders, then expect BTC to rally up to at least the tip of the left shoulder.
Also, we are within the Red Ichimoku, usually a sign we may push further into the cloud to test the waters.
BUT, there are some good signs, one being that Bitcoin will go up, because that's just how it is... you drop a few times, you shake people out, they give up, and then you bounce to retest previous resistance levels. This is a lower timeframe position so take caution on what occurs, but if we are able to break the neckline of the inverse Head & Shoulders, then expect BTC to rally up to at least the tip of the left shoulder.
Also, we are within the Red Ichimoku, usually a sign we may push further into the cloud to test the waters.
Trade active:
Looks like we got the breakout, market's be easy to predict these days ON G
Trade closed: target reached:
We've hit our price target at the top of the H&S pattern. Price may continue to the upside in the coming days but we'll have to wait to see how much conviction is within the move. Either way, enjoy the gains for now boys!