BTCUSD: Shortterm H&S?
The yesterday mentioned "last supportzone @ 610" could be defended. The temporarily broken support @ 625 turned again into a supportlevel. The strong selloff to 610 was bought two times, a double bottom appeared at that Niveau. The double-bottom-move catapulted btc to it`s normal correction Niveau at 644 (fibo 0,5)
Now this Niveau (644) is central! This Niveau is corresponding to a possible neckline of the potential H&S in the 15min Chart.
As Long as we trade below that Level, especially below 636, a new sellingwave can be exspected with TPs: 625 / 610. Prices abobe the neckline could indicate a shortterm longsignal with tps: 652/660. All my thoughts and illustrations of yesterday are still valid.
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Former Analysis:
Comment. We have seen a break of the shortterm uptrend tonight. The first supports turned into resists!
hmmm....let`s see if the bearish shortterm flag also will be triggered... if yes, a new low @ 625 could be on the Agenda
a new green "2" is born - like exspected
last resistance is 610$! below that i exspect a little selloff to 560$/ 540$. Prices below 540 would be catastrophal
Now rebounds till the regions of the fibos 636/6944/652 are thinkable. (minimal/normal/maximal correction) for me 644 could be a nice turnaround level - this was the last valid green 22". Prices below 610 will perhaps cause a little selloff - only prices above the central pivot resistance @ 680 will brighten the chart and open the way to the top @ 780
Now this Niveau (644) is central! This Niveau is corresponding to a possible neckline of the potential H&S in the 15min Chart.
As Long as we trade below that Level, especially below 636, a new sellingwave can be exspected with TPs: 625 / 610. Prices abobe the neckline could indicate a shortterm longsignal with tps: 652/660. All my thoughts and illustrations of yesterday are still valid.
If you like it - like it
Former Analysis:
Comment. We have seen a break of the shortterm uptrend tonight. The first supports turned into resists!
hmmm....let`s see if the bearish shortterm flag also will be triggered... if yes, a new low @ 625 could be on the Agenda
a new green "2" is born - like exspected
last resistance is 610$! below that i exspect a little selloff to 560$/ 540$. Prices below 540 would be catastrophal
Now rebounds till the regions of the fibos 636/6944/652 are thinkable. (minimal/normal/maximal correction) for me 644 could be a nice turnaround level - this was the last valid green 22". Prices below 610 will perhaps cause a little selloff - only prices above the central pivot resistance @ 680 will brighten the chart and open the way to the top @ 780
Note
microstructure of the flag Note
Note
ultrashortterm view: btcusd triggered the neckline.... former resist turned again into a supportlevel Note
Tp1 and tp2 reached...a passable ne Green 3 appears
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