BTCUSD - Reverse H&S forming
Updated
Possible reverse H&S forming since breaking the downward resistance trendline of the falling wedge this morning.
Small volume not able to break the 50MA for now, but price supported by the 38.2 fib level. Next target could be the 50 Fib at 3870 USD.
If BTC breaks the 50 fib, strong resistance at the 67.8 fib will probably push the price down towards the 3.700-3.680
Small volume not able to break the 50MA for now, but price supported by the 38.2 fib level. Next target could be the 50 Fib at 3870 USD.
If BTC breaks the 50 fib, strong resistance at the 67.8 fib will probably push the price down towards the 3.700-3.680
Note
Reverse H&S denied, retest of the falling wedge support line failed.Falling wedge still in play
Note
50% retracement, no volumedownside break through the 50% fib level
bounce of the 61.8 fib level, but again no volume..
I guess there will be another downside break to the 76.4 fib level at 3.711 usd
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