I personally would like to see bitcoin blast up to new highs but I have to remain objective here.. I currently see this descending formation and with bitcoins latest drop in price, I would need to see new highs be made in order to change my bias of a further downside push. I can see a potential push up short term but it could be the completing shoulder to a head n shoulders pattern back down to complete the fib series to around 45k.
To invalidate this, the last high on the 1 day chart needs to be broken otherwise.. strap in.
To invalidate this, the last high on the 1 day chart needs to be broken otherwise.. strap in.
Note
s3.tradingview.com/snapshots/n/NXuzyWcR.pngprice is now heading into a critical area for me. I want to see if bitcoin will invalidate this potential head & shoulders pattern or will we see another drop to the downside to complete the fib series in blue.
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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.