BTC signs of reversal evident

7 jun 2019

Bitcoin showing serious signs of a reversal here. Possible H&S forming. My guess is if it doesn't get a close above 8800 soon, there is a high probability a reversal is coming. RSI is bearish, OBV flat if not slightly bearish. Most important is the price action showing bulls holding on for dear life here and downward move evident soon if they can't get above this 7500-8500 range quickly. In addition the initial downward move didn't even complete yet from the bearish wedge. So I suspect it is at least going down to 6800. Nothing revolutionary here just what I'm taking away from the chart right now.