Assuming that bitcoin will be denied here at neckline it just dive through, makes it drop more down somewhere around 8200 according to trend line from where the last inverted head used to bounce up.
After gaining enough strength, bitcoin comes back up and try to break through the craziest resistance ahead - combination of the current support and that infamous neckline.
Obviously the break won't come at first try which results another inverted head and shoulders forming right there below the same neckline.
On the next go it will get through like it did last time with a massive blow and from there it will retrace to a spot (number 4) where we really see does bulls have the energy inside of them or not.
After gaining enough strength, bitcoin comes back up and try to break through the craziest resistance ahead - combination of the current support and that infamous neckline.
Obviously the break won't come at first try which results another inverted head and shoulders forming right there below the same neckline.
On the next go it will get through like it did last time with a massive blow and from there it will retrace to a spot (number 4) where we really see does bulls have the energy inside of them or not.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.