Inverse Head and Shoulders - When Resistance Turns to Support
I'm still keeping a close eye on this H&S formation, but after further research, a downward sloping neckline doesn't appear overly bullish and as such may be enough of a reason not to risk the trade.
If BTC breaks above the neckline and holds/bounces above previous resistance, I may still be interested in taking the trade.
I certainly don't have high hopes for a big bounce unless the volume picks up during the bounce.
One thing I'm learning very quickly is, ideas change as the market evolves. Trying to force the same trade just to prove a point, may just end up being proved in the wrong way!
If BTC breaks above the neckline and holds/bounces above previous resistance, I may still be interested in taking the trade.
I certainly don't have high hopes for a big bounce unless the volume picks up during the bounce.
One thing I'm learning very quickly is, ideas change as the market evolves. Trying to force the same trade just to prove a point, may just end up being proved in the wrong way!
