Hello, people!
We can witness a formation of a head and shoulders pattern. Since we are still insider descending channel I would expect the price to drop to $8,100 (CEX.IO). My previous post explains why we can still touch $6,000. We tried hard these days to break through this channel but failed on every occasion. RSI and MACD both show on smaller time frames that we should go down. Might be a good opportunity for short with a stop loss at previous highest point.
Hope this amateur analysis can help you see the opportunity.
We can witness a formation of a head and shoulders pattern. Since we are still insider descending channel I would expect the price to drop to $8,100 (CEX.IO). My previous post explains why we can still touch $6,000. We tried hard these days to break through this channel but failed on every occasion. RSI and MACD both show on smaller time frames that we should go down. Might be a good opportunity for short with a stop loss at previous highest point.
Hope this amateur analysis can help you see the opportunity.