previous resistance now attempting to act as support, we could have a double C wave form and a double bottom on bitcoin. The chart shows previous resistances now acting as support, we need to continue to monitor the price action to determine at which level C wave will form. Gut tells me shorts think this will form into a head and shoulder. That is true it could, if it doesnt break $7400 again, it could dip sub 7k one more time and form c wave there, which there still is support from the previous resistances. Imho I see this as a bear trap and jet fuel for a breakout above $7400, which leads to a run of $9200 A target I seen formed by the AD, which gave me an Ascending triangle. I posted this in previous charts.
Disclosure: long xrpusd, bitcoin on c-wave w/ confirmation stay tune
Disclosure: long xrpusd, bitcoin on c-wave w/ confirmation stay tune
Note
Note
c wave activated? Note
xrpusd tracking same as bitcoin Note
A front row seat Note
Note
Previous resistances acting as support Note
now watch how the parallel channel helped me find the bull flag Note
Intraday resistances level Note
flag breakout on the 1hr time frame Note
another flag breakout looming 
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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.