Bitcoin short-term trade once H&S neckline breaks.
Yorum
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BTC still needs to retrace back to $7,200 but I did not anticipate the bounce from the H&S neckline so I missed a good 8% there. The retrace is still on and at present (18:00 UST) we are seeing the neckline resistance after having broken at 12:00. We have also seen strong support at the trade end target price of $7,900 which gives me confidence that it will remain a good exit point on the way back up.
Currently I have not yet been able to enter this trade but the trade is still in play.