BTCUSD Inverse Head And Shoulders Pattern and Long Opporunity
Description: Bitcoin / USD forming a Inverted Head And Shoulders pattern on the M30 Chart timeframe. Long opportunity at the potential breakout of the neckline.
Pair / Instrument:BTCUSD
Time Frame: M30
The trend in the Timeframe: NEUTRAL
The trend in the Daily Chart: BEARISH
Trade Based On: Inverse Head and Shoulders Pattern
Recommended Lot Size:
AREA OF THE ENTRY: – potential breakout 6490-6500
STOP LOSS: 6.405
TARGET 1: 6550
TARGET 2: 6601
TARGET 3: 6650
You can follow the trade:BTCUSD I SHS Pattern
Update: We have reached the targets. We have a bearish harmonic XABCD pattern. Short Trade as shown in the chart.
Update 2: Short Trade Reached the target.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
BTCUSD : Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.