We can see that bitcoin is forming an inverse head and shoulders reversal pattern.
It looks even better on the daily chart, however, I wanted to point out how the Ichimoku cloud is bullish on the hour for the first time since May.
Longs are building so I'm waiting to take a position. I expect us to have a long squeeze and bound of the Ichimoku cloud at either 6400 or 6200 depending on when it happens.
I expect us to hover in this area between 6200 and 6800 until around July 13th. Shoulders of the Inverse head and should patterns are supposed to be around the same length.
Then I'm looking for a breakout of the neckline to 7800. Which happens to be the top of the Ichimoku cloud on the daily.
I stand by my position we will have 3 months of sideways of BTC between 6000 and 8000.
Check out my website for crypto research coinstudi.com
This is not financial advise
RothJoshstein
It looks even better on the daily chart, however, I wanted to point out how the Ichimoku cloud is bullish on the hour for the first time since May.
Longs are building so I'm waiting to take a position. I expect us to have a long squeeze and bound of the Ichimoku cloud at either 6400 or 6200 depending on when it happens.
I expect us to hover in this area between 6200 and 6800 until around July 13th. Shoulders of the Inverse head and should patterns are supposed to be around the same length.
Then I'm looking for a breakout of the neckline to 7800. Which happens to be the top of the Ichimoku cloud on the daily.
I stand by my position we will have 3 months of sideways of BTC between 6000 and 8000.
Check out my website for crypto research coinstudi.com
This is not financial advise
RothJoshstein