BTCUSD - More evidence for BITCOIN to go down?!
Updated
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Hello traders investors and community. This is an update analysis on my recent SHORT analysis about BTCUSD .
As you can see in my chart BTCUSD is about to form an huge head and shoulders pattern with the right shoulder about to complete.
We have strong resistance above us at 12100 - 12200, when we touch this area there is a high probabilty for an next pull-back and sell-off.
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As now the price is consolidating with declining volume and momentum, normally such a movement is shown before more decline in price.
Also the psychological range above 10.000 is holding now, this is why we seen some up-moves the last days, but this will not be forever as i expect.
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When we cant hold the range above 10.000 the price will shrink faster, as it now does with lower momentum. So be aware!
This pattern can be traded with confirmation of the head and shoulders formation.
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Thank you for watching my analysis love you all! Give some support and you will see more market insights in the future!
This is only educational and should not used to take action in markets!
May all happiness and luck come to you friends!
_______________________________________________________________________________________________________________________________________
Hello traders investors and community. This is an update analysis on my recent SHORT analysis about BTCUSD .
As you can see in my chart BTCUSD is about to form an huge head and shoulders pattern with the right shoulder about to complete.
We have strong resistance above us at 12100 - 12200, when we touch this area there is a high probabilty for an next pull-back and sell-off.
_______________________________________________________________________________________________________________________________________
As now the price is consolidating with declining volume and momentum, normally such a movement is shown before more decline in price.
Also the psychological range above 10.000 is holding now, this is why we seen some up-moves the last days, but this will not be forever as i expect.
_______________________________________________________________________________________________________________________________________
When we cant hold the range above 10.000 the price will shrink faster, as it now does with lower momentum. So be aware!
This pattern can be traded with confirmation of the head and shoulders formation.
_______________________________________________________________________________________________________________________________________
Thank you for watching my analysis love you all! Give some support and you will see more market insights in the future!
This is only educational and should not used to take action in markets!
May all happiness and luck come to you friends!
_______________________________________________________________________________________________________________________________________
Note
Broke trend-line of the head and shoulders pattern. More selling pressure is expected.Note
Head and shoulders pattern is confirmingNote
H&S confirmed, we will see more selling next timeNote
Thanks for everybody who supports my work! You are the best!Note
The information provided is for educational purposes only and should not be used to take action in markets.Note
ANALYSIS UPDATE: BITCOIN pulled back within the range to increase the bearish waves and complete the major head-shoulder formation.Since BITCOIN finalized the whole formation it reached out to all of the target-zones and also formed a main reversal afterwards.
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