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TradingShot
23. Mai 2019 06:13

BITCOIN Break down analysis. See which levels to watch! 

Bitcoin / DollarBitfinex

Beschreibung

Bitcoin has been very volatile lately after the parabolic rise made a stop. 4H is trading on an Inverse Head and Shoulders pattern and its neckline has just been marginally crossed.

This is an early bearish signal as it brings BTC face to face with a pivotal Support, the 7600 level. This is were many major Support levels cross paths creating a strong Support Zone. If breached expect to test the 6870 - 7000 1D Support soon.



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Kommentare
Ville1
dont you think is going to the low 6k area anymore?
TradingShot
@Ville1, Yes I do. This analysis is on a short time horizon only.
TradeIndicators
Watching closely with you guys! Currently long and scaling out. Have a slight feeling we could see a very nice jump soon but have a short alert ready just in case :)
TradingShot
@TradeIndicators, Thanks TI! Have that short ready as you say!
TradeIndicators
@TradingShot, Yes Sir ;)
CopilotThe
Key resistance broken, room for long positions after the pull-back!

TradingShot
@CopilotThe, Approaching the 1W Resistance. Let's see how this plays out over the weekend. High alert indeed.
WBM_Team
This is how we do it. :)

TradingShot
@WBM_Team, +10 for the cat warning us of the alt season!
cryptohopper
Longer consolidation process if the resistance R1 at $8,000 is not broken, however if R2 is broken, bull run likely to continue:

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