BROKE THE NECKLINE
Bitcoin has painted a large head and shoulders pattern on the weekly time frame. We have already broken the neckline with a measured move down to $20,685. From here we have multiple areas of horizontal support down to $28,666 that can hold Bitcoin up. Although, it looks like the momentum can start building if we see more bearish volume.
-The RSI and MACD have plenty of room to fall with price action
-Bitcoin is flirting with physiological support of $40,000
-Bitcoin has also broken down from a bear flag with a measured move to #28,666
-The RSI and MACD have plenty of room to fall with price action
-Bitcoin is flirting with physiological support of $40,000
-Bitcoin has also broken down from a bear flag with a measured move to #28,666
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Catatan
The next leg down should get us in between the green dotted support lines. This next zone should give us a huge indicator on the strength of the trend.
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.