BTC/USD Pullback
Updated
Hi everybody,
As you can see in the chart, BTC triggered anothe inverted H&S pattern and at the moment you can see a pullback in price that we expect to come lower to the neck line and support line from previous lows that can be seen more clear in BTC daily chart below.
In my opinion this is good for bitcoin because it needs to form another higher low in order to verify the bull trend and continues stronger and safer. Since the BTC is the mother coin or alpha, the altcoins started to fallow its lead and now we can see most of the coins are doping. However, some coins such as EOS and BCH are forming inverted H&S patterns with big possible move to upside and low risk. If you like you can check my ideas and analysis on these two coins.
Best wishes on your trades.
As you can see in the chart, BTC triggered anothe inverted H&S pattern and at the moment you can see a pullback in price that we expect to come lower to the neck line and support line from previous lows that can be seen more clear in BTC daily chart below.
In my opinion this is good for bitcoin because it needs to form another higher low in order to verify the bull trend and continues stronger and safer. Since the BTC is the mother coin or alpha, the altcoins started to fallow its lead and now we can see most of the coins are doping. However, some coins such as EOS and BCH are forming inverted H&S patterns with big possible move to upside and low risk. If you like you can check my ideas and analysis on these two coins.
Best wishes on your trades.
Comment
Looks like bitcoin is dropping so hard and if it passes 7221$ there will be a high probability of going to bear market again so be careful with your trades.Disclaimer
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