Bitcoin inverse H&S or ugly broadening wedge

Bitcoin has formed a huge H&S, and is currently struggling at the neckline. However, if we look closely there is an broadening ascending wedge on the right shoulder (ugly one, but still), supported by a bearish divergence on 1H and 4H chart. If the supporting trendline at 19,100$ is broken we might see a further fall. Thus, we should be very careful right now. But if 19,700$ is broken and the candle closes above it, BTC might start an upside move, probably the previous high would send the price back for a neckline retest. I am still bearish until I see a strong bullish move. Whichever way BTC decides to go, I am with it!

Commentaire:

As expected the fractal break (top yellow line) caused a massive buy orders + many stop losses hit (which again is kinda many buy orders).

Trade fermée manuellement:

Closed it manually, not getting greedy. I am happy with my profits.