Hey dear friends, on the 12-hour chart, the price action of Bitcoin is retesting the neckline of the inverse Head & Shoulder pattern after breaking it out. If this re-test will be successful then there will be an imminent move to $70K as per the targets of H&S, which is the measurement of head to the neckline.
Note: the pattern is weak as the inverse H&S works perfectly in a down trend, this time the price action is completely up-trend. The above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with the trade.
Note: the pattern is weak as the inverse H&S works perfectly in a down trend, this time the price action is completely up-trend. The above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with the trade.