Bitcoin is forming the head and shoulders pattern which indicates reversal in trend. Volume is decreasing and RSI is in downtrend. This support the H&S pattern.
In the bigger picture we are in wave 5 of elliott wave (link of my analysis is bellow). I think that correction is near. I'm staying in cash for now. I will quote one of the best traders I follow here (goldbug1) "cash is king in time of market correction".
I would look for the opportunity around support levels (orange and blue lines). Good luck.
In the bigger picture we are in wave 5 of elliott wave (link of my analysis is bellow). I think that correction is near. I'm staying in cash for now. I will quote one of the best traders I follow here (goldbug1) "cash is king in time of market correction".
I would look for the opportunity around support levels (orange and blue lines). Good luck.
