BTC Inverse Head and Shoulders
BTC has a nice looking inverse head and shoulders on the 15m. This could lead to a break of the trendline above. It may be a good short there too, for now I'd consider it rangebound between about 63k and 50k.
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It nearly hit the trendline there before a small rejection. I see this area and reaction from here quite important. If BTC does reject more, it may provide a long opportunity and bounce at the neckline from the inverse H&S if it hits. Looks pretty rough if it doesn't hold that.
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
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