Bitcoin-Intraday Update Head and Shoulder in the making it seems

20. Dez. 2017

Bitcoin is approaching resistance zone quickly. The underlying has rallied as expected through 17700 levels till now before pulling back slightly. Resistance zone is between now and 18200 levels, also converged with fibonacci 0.50 and 0.618 levels. A potential Head and Shoulder reversal i seen here with prices just within the vicinity of the left shoulder. Aggressive traders might want to sell partial now and remaining around 18000/200 levels, stop above 20000, targeting 10000 levels at least. Looks like it could be an A-B C correction atleast. Bottom line, prices should stay below the proposed Head, for the above case to remain valid.

Good luck!

Sincerely
Harsh Japee