Testing Overhead Resistance | #BTC $USD #Bitcoin #Litecoin $Gold

Friends,

A quick tech-note here to alert that a potential reversal might occur on two technical bases:

1 - Our predictive analysis is printing an early bullish market reversal sign, pending signal confirmation

and

2 - Price action has moved opposite to forecast direction and is now testing overhead resistance of momental channel.


OVERALL:

For reasons defined above, we are preemptively changing the "Short" sticker to a "Neutral" to reflect our subjective bias. However, our predictive analysis system remains bearish.

I recommend that the bearish trader be concerned at the point where price posts a BACA (i.e.: "Break Above, Closes Above") that physical overhead resistance defined in the chart. Until then, it remains a routine testing event.

Cheers,


David Alcindor
Predictive Analysis & Market Forecasting
- TradingView.com Moderator, Alias: 4xForecaster


PS: If you liked the analysis, feel free to give it a "Thumb Up" and share with friends and colleagues interested in the market. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark), or other well known patterns. However, we concentrate mainly on Shark, 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.


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Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster