massive inverse H&S on BTC
Updated
The correction may very well be over. Markets often bottom on bad news and it seems that bitcoin bottomed when China made its announcement of cracking down on mining.
Ever since then BTCUSD has been on a gradual uptrend with lots of positive headlines and widespread adoption becoming more commonplace along with the past-due recognition that Bitcoin incentives renewable energy. Bitcoin empowers those that have been left behind by the traditional financial system.
Waiting for confirmation of the trend with the neckline being broken. The pattern is very bullish & is accompanied by a bullish MACD cross and a pass of the test at 50 RSI. It has plenty of room to its 4H200 MA.
Ever since then BTCUSD has been on a gradual uptrend with lots of positive headlines and widespread adoption becoming more commonplace along with the past-due recognition that Bitcoin incentives renewable energy. Bitcoin empowers those that have been left behind by the traditional financial system.
Waiting for confirmation of the trend with the neckline being broken. The pattern is very bullish & is accompanied by a bullish MACD cross and a pass of the test at 50 RSI. It has plenty of room to its 4H200 MA.
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