Bitcoin price reached the upper line of the monthly VWAP and is forming a bearish head & shoulders reversal pattern after the bull run from the bounce on yearly highest volume node at 41800$.
The volume is decreasing.
We have a bearish divergence on momentum.
We have a bearish divergence on CVD (Cumulative Volume Delta, not shown on graph).
tradinglite.com/x/2202MjrG3a
The target is 42800$ which is the local Fib 0.238 retracement.
The volume is decreasing.
We have a bearish divergence on momentum.
We have a bearish divergence on CVD (Cumulative Volume Delta, not shown on graph).
tradinglite.com/x/2202MjrG3a
The target is 42800$ which is the local Fib 0.238 retracement.
Trade closed: target reached
Bitcoin price reached the yellow box area at 42900$ and has made the -2% from H&S neckline.
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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.