*Short Term* Head and Shoulder formation solidifies
Actualizado
We have a couple of signs here that point to another decline in BTC shortly!
1. The Head and Shoulder pattern forming on the 15min time frame is too obvious to deny. Clear overhead resistance at 36.5k has turned down our head 3/4 times. Our right shoulder is atleast $500 shorter than our left, leading me too believe the 3rd attempt to test resistance will fall short unless buying pressure REALLY picks up.
2. Buying pressure has been suspiciously low for each of the rises in value, much lower than our inclines in previous days.
3. The RSI Histostrategy will reach 35-40+ to really indicate buying pressure like it has in previous days yet all 3 attempts at rising in the last 24 hours have only reached 30. Not quite enough to break the downward incline.
I'm looking to re-enter between 27,500 and 29,000 after a confirmation in pullback.
1. The Head and Shoulder pattern forming on the 15min time frame is too obvious to deny. Clear overhead resistance at 36.5k has turned down our head 3/4 times. Our right shoulder is atleast $500 shorter than our left, leading me too believe the 3rd attempt to test resistance will fall short unless buying pressure REALLY picks up.
2. Buying pressure has been suspiciously low for each of the rises in value, much lower than our inclines in previous days.
3. The RSI Histostrategy will reach 35-40+ to really indicate buying pressure like it has in previous days yet all 3 attempts at rising in the last 24 hours have only reached 30. Not quite enough to break the downward incline.
I'm looking to re-enter between 27,500 and 29,000 after a confirmation in pullback.
Comentarios
Two possible scenarios going down as some buy pressure has appeared, forming a triangle... Still lots of resistance ahead
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