Long

BTCUSD Inverse Head and Shoulders

Hello Traders,

New Thesis on BTC,

Points to consider here are,
- Potential Inverse head and shoulders pattern playing out
- RSI on an upwards trend
- Right shoulder volume declining, which is common in H&S patterns
- Neckline has been acting as strong resistance, high volume move imminent
- VPVR showing low volume of transactions after resistance

BTC needs to break this neckline with strong volume, if this break out occurs, its more likely that BTC will test yearly highs

What are your thoughts? Please leave a like and comment

and remember,

“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” -William O'Neil

The_Alchemist_Trader_

Join the Free Trading Group

Telegram: t.me/freetradingden 🔥

Unlock Blofin Bonuses

Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁

Stay sharp, trade smart.
— Team The Alchemist ⚔️

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

The_Alchemist_Trader_

Also on: