BTC is about to complete a H&S pattern. However, what gives rise to an even more bearish outlook in terms of a potential sell-off, is that a drop from the lower high could surpass the prior low and support of 8000. If this happens, and especially if also the lower orange support line is crossed, I'm expecting a significantly deep sell-off.
However, I'm unqualified to give any financial advice - which this is not - and this is just my own opinion :)
However, I'm unqualified to give any financial advice - which this is not - and this is just my own opinion :)
Kommentera:
The bulls made one more attempt than I expected, resulting in yet a lower high. BTC now broke its recent support line, as well as the most recent low it seems. I'm now watching the 8000-level. If it breaks, a larger sell-off might well occur.