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BTCUSD Short term inverse head and shoulders as rally continues
Bitcoin looks like it is continuing its rally after sells were absorbed earlier today and selling momentum slowed down and eventually reversed to the upside.
This inverse head and shoulders resolving provides a good trade in terms of risk to return. A decent long entry could be around 375 with a stop at 372 in case the breakout is actually a fakeout. Good upside potential, I'd suggest to take some profit at 381 and let the rest run while moving your stop to breakeven.
This inverse head and shoulders resolving provides a good trade in terms of risk to return. A decent long entry could be around 375 with a stop at 372 in case the breakout is actually a fakeout. Good upside potential, I'd suggest to take some profit at 381 and let the rest run while moving your stop to breakeven.
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