Is there a reverse H&S pattern setting up for BTC? Neckline is a little steep and left shoulder never returned to the neckline, but otherwise the shape is there. We would be entering the right shoulder dip right now if so, with the bottom coming within 72 hours in the $7,600 to $8,000 range. From there, it would project a $17,600 target mid to late March.
$1.095 has been a ceiling and floor many times in the past for XRP. Even if it breaks through that, it will meet another ceiling, a wide descending channel.
Where do we go from here? Probably stay in the channel, right? RSI is near neutral, could go either way. 2655 acted as both ceiling and floor back in December...
Is the 50 day moving average the best time frame to use for BTC? It's longer than I prefer for cryptos, but Bitcoin's also been around the longest. The chart appears to bounce off that MA the most.
Looks like a big move coming in one direction or the other. Hard to say which direction, but the trend is up so I would go with that if I had a gun to my head.
What do you think? MACD and RSI look bullish. A move to the top of the channel would bring us to around $15,000. Breakout from there or more swings in the channel?
