Keep an eye out for a triggering sell event on Bitcoin through the temporary "floor" at $6,200.
Price has been steadily rising from the recent lows at $5,750 however this pattern is a BEARISH signal. We could see one more pump but be careful it, this could be a bull trap.
RSI trend line has broken to the downside with volume steadily decreasing. There is an inverse head and shoulders pattern at risk, that should keep the buyers interested.
I intend to accumulate into a sell position with stops above $6,400 which would also invalidate the rising wedge pattern.
A projected target for completion of this pattern is near $5,600.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Price has been steadily rising from the recent lows at $5,750 however this pattern is a BEARISH signal. We could see one more pump but be careful it, this could be a bull trap.
RSI trend line has broken to the downside with volume steadily decreasing. There is an inverse head and shoulders pattern at risk, that should keep the buyers interested.
I intend to accumulate into a sell position with stops above $6,400 which would also invalidate the rising wedge pattern.
A projected target for completion of this pattern is near $5,600.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Kommentera:
Break triggered . Look to short the altcoins
Kommentera:
Another sell pattern forming.
Kommentera:
Kommentera:
Wrong chart. This one:
Kommentera:
Moving south as expected. The power of TA cannot be underestimated
