IOC is forming a inverted head and shoulder. Breakout can happen soon above 174 and target is its previous high.
during recent correction it perfectly took support from the previous breakout level of 150-155 zone and started rising..
keep watching for a swing long trade with RR more than 1:5.
after breaching the strong resistance zone of 71000-71500, btc touched almost 73000 but retraced back to previous support due to supply zone, where it has formed a double bottom pattern..
now it is breaking out of short term consolidation and looking good to touch its ATH. or even cross it..
time to watch over BTCUSD trade if it breaks recent trendline as...
not just on weekly basis.. but gold has broken monthly trendline resistance.
it has formed cup n handle pattern .. which further coincides with trendline breakout..
the target zone for gold is 3000-3100 USD in few months.. but it has entered into a strong bull phase..
gold has broken weekly resistance area comprehensively by forming inverted head and shoulder.. and it seems ready to test $2500.. so its better to enter in buying with some retracement and on immediate support area..
