Bitcoin testing $5800 this week?
Bitcoin is completing the H&S -It appears that low volume kept the right shoulder at the lowest allowable height -
The bottom of the right shoulder should be close to $6000 around Aug 24 and we should see a retest of $5800 by Aug 29.
If we retest $5800 in a completed H&S, I expect a bounce to $6200 the first week of September.
Bitcoin needs volume for the price to rise. The lower the volume, the lower the manipulated bottom can be.
The bottom of the right shoulder should be close to $6000 around Aug 24 and we should see a retest of $5800 by Aug 29.
If we retest $5800 in a completed H&S, I expect a bounce to $6200 the first week of September.
Bitcoin needs volume for the price to rise. The lower the volume, the lower the manipulated bottom can be.
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