BTC Potential Inverse Head & Shoulders

15 Feb 2022

Bitcoin might be forming an inverse head and shoulders on the 4-hour chart. Currently, the Coinbase Order Book is showing a large volume of limit sell orders at or before 45k which aligns closely to a potential neckline. A break above 45k may be a decent entry with a tight stop targeting 47k, a break below 43k would be the invalidation point with this level coinciding nicely with weekly support. Could flip short at this point with a price target of 41.8k.