BITCOIN (#BTC): Head and Shoulders
Actualizado
Today we saw the BTC's first attempt to get through magic resistance at $10000. As I predicted, attempt was unsuccessful. But volume wasn't enough for significant BTC upward growth. Not, at the weekend.
Next few days let us know the next fate of the BTC and the other Alts. Whatever happens, the market's reaction will be enormous. So, do not use stoploss at all of your trades!
At 1D TF BTC is still in Rising Wedge pattern. At 4H TF we can see Head and Shoulders pattern. Both of patterns are bearish and predict likely downtrend will continue.
I hope you enjoy my charts, please writte your comments, hit that like button or follow me. Thank you!
Next few days let us know the next fate of the BTC and the other Alts. Whatever happens, the market's reaction will be enormous. So, do not use stoploss at all of your trades!
At 1D TF BTC is still in Rising Wedge pattern. At 4H TF we can see Head and Shoulders pattern. Both of patterns are bearish and predict likely downtrend will continue.
I hope you enjoy my charts, please writte your comments, hit that like button or follow me. Thank you!
Nota
The 2nd day of the BTC continues to decline, currently the price is around $ 9400 and the bears keep pushing it down.On 1H TF, BTC forms a bearish flag pattern.
At 12H TF we can see valid bearish patterns - Head and Shoulders, and Rising Wedge. The Volume profile has a decreasing trend. Looking at MACD, we see a bearish divergence.
However, strong levels of support are below us. The EMA200 constantly ranges around $9100, EMA50 at $8900 has a upward direction. I think these support will not let BTC go down so easily. Pay attention to these two lines - If these lines cross over, it will be a strong signal to buy. It is also positive that BTC has so far held Fib 23.6%.
What will happen next? Now, the further movement of BTC is difficult to predict. All technical indicators indicate a decreasing trend, but at the same time BTC can be pump again.
In the event of a fall, then the following targets are $9,1K / $8,8K / $8,5K / $8,3K. Otherwise, targets are 10.5K / 11.5K / 12.5K. So in the game to grow to $ 12.5K, but also drop to $ 8300.
Here on BTC, we're in a range that I'm not very comfortable trading at the moment. I like to wait for BTC next movements.
Nota
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