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$BTC perfectly bounced from the previous support range (white arrow).
Now it’s back inside the blue channel.
The bottom is likely in if the daily closes back inside the channel
Earlier, I said:
Fully expect price to rebound from the support range of $109.3k - $112k (the neckline area taken as a horizontal range)
$119.9k tagged ✅ and rebounded ✅
2.8. klo 04.30
Bitcoin Inverse H&S Update
BTC is experiencing a full re-test of the neckline. This is the most common outcome following a H&S breakout (as opposed to rocketing upward without re-test)
The head and shoulders invalidation level is shown in red. I sincerely doubt we see that, but it's good to know what it is.
Fully expect price to rebound from the support range of $109.3k - $112k (the neckline area taken as a horizontal range)
However, if BTC rejects from channel, it likely has to go deeper into the previous support range (the large, shaded blue rectangle)
So far, BTC is looking good. It confirmed back inside the channel.
UPDATE
UPDATE
8.8. klo 06.19
Bitcoin - Bull flag breakout and re-test.
If it bounces here the next leg up begins.
4H candles shown. Let's verify the move with a daily confirm above the channel for more conviction.
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