BTCEUR Head and Shoulder leading to fork retracement

Updated

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Fork lines got displaced, sorry about that.
If the head and shoulder forms and the market retraces it could lead to a potential buy opportunity.

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Now it gets interesting. Observe price action at the L-MLH (Lower-Medianline-Parallel). Only get long if price gets rejected. Be careful, since Bitcoin is way overextended at next weeks CME futures could very well lead into a "big short".

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*and* next weeks CME futures

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I am calling it off, since the market is pretty undecided with low volume. Lets see what Monday will bring for bitcoin. All in all I am neutral to bearish at this point in time.

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