Bitcoin is retesting the broken Inverse H&S formation
Bitcoin is testing the previously broken Inverse H&S formation neckline 9500-9800 zone. A close above 10400 is required for the upside continuation and extension higher to 12300 key upside resistance level test. For a complete bearish downside reversal breakout and higher probability short trade entries, we need to see a confirmed break below 9000. A break below this level would lead to a pullback into a 6000-7000 zone. The overall long-term is an uptrend but we need to see a break above 12300 for a complete upside reversal.
Note – We are inclined more to long trade entries upon with the stop loss below 9000
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.
LAST MINUTE ANTI COVID-19 FLASH SALE UP TO 25% OFF! ABOUT TO EXPIRE! FUNDED TRADER ACCOUNT!
