Bitcoin is finally making a bounce, albeit it being a weak one. I expect us to retest the exponential moving averages and reject from these on the daily timeframe.
This will create the right shoulder in a giant head and shoulders pattern with the neckline around $6k. Should this come to pass, we will soon see sub $6k BTC - perhaps within the next week or so.
This will create the right shoulder in a giant head and shoulders pattern with the neckline around $6k. Should this come to pass, we will soon see sub $6k BTC - perhaps within the next week or so.
Note
The bounce I talked about was a day premature as we got some more sideways action before the proper bounce took place. As most shorts were opened around the 6.5-6.8 upwards toward 7k area, we won't really squeeze them and force them to cover till we break these levels.
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.
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.