It seems like BTC is going for an inverse Head&Shoulders pattern. Added to that we are seeing a bullish divergence when we check the MACD indicator.
Note
As expected BTC is going down, I am waiting for a confirmation and not trading at the moment because there is also another Head&Shoulders pattern in this chart and we can't be sure which one will be the right way.Note
BTC is heading for the big resistance line after almost a perfect bounce to form my predicted inverse Head&Shoulders pattern. We just need to watch if it will breakout or bounce from the resistance line to go back down and make this Head&Shoulders invalid. I am not trading at the moment as I said before.Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.