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21weeklyema

Price action below the 4hr H&s neckline target 22k if confirmed. The 21 daily ema is now current resistance overlapped with the inv 78.6 fib for double reinforced resistance. if this h&s triggers its breakdown here the measured move breakdown target is 22k What's more is the ever-important 21 weekly ema on the weekly timeframe(not shown here) is exactly overlapping the breakdown target for the h&s at 22k also overlapping the 50% fib this should create double reinforced support at this level All three combined create some extremely compelling bearish confluence...I think we head to 22k and then see a bounce from there based on the fact that we are overdue this bull run for a retest of the 21 weekly ema and the confluence of it overlapping the breakdown target and the 50% fibonacci retracement. Of course there is a chance this could be a fakeout if the inv 78.6(in teal) and the enckline of the h&s are flipped back to solid support. Must wait for confirmation here.
GEMINI:BTCUSDShort
by DrDovetail
1