BTC Head and Shoulders, 42k support critical junction.

BTC appears to be making a head and shoulders pattern while creating trends.

1. accumulation trend, positive, if continues BTC has a better chance of moving upward.
2. downward trend, if price continues not bad for BTC, continue to watch.
3. head and shoulder pattern developing (green line), head and shoulder often means a top and heavy selling or continues downward selling expected.
4. 42k critical support line in the middle of all options mentioned above.

Note, all tradeable.

Kommentar:

- Continues to accurately follow the projected head and shoulders analysis.
- The drop on May 19 to 30k shows strong support.
- Wouldn't be surprised to see a shakeout to 30k before testing 42K.
- Eight distribution days out of eleven sign of weakness. Out of the two of the three
accumulation days volume is not enough to reverse the price (IMO).

Trade geschlossen: Stop wurde erreicht