Market Instrument: BTCUSD
Timeframe: Multiple
Analysis: Technical
Structure: Head and Shoulder
Prediction: Bearish
Bitcoin has reversed after a fake higher high laddering towards 52k. As I mentioned earlier through my analysis price has got back towards 42k after failing to breach the 52k resistance. Here the chart shows a very strong and clear bearish setup with the potential of another price decline towards the 30K support where it may be foreseen after a breakout on the neckline of the picked-up structure.
Timeframe: Multiple
Analysis: Technical
Structure: Head and Shoulder
Prediction: Bearish
Bitcoin has reversed after a fake higher high laddering towards 52k. As I mentioned earlier through my analysis price has got back towards 42k after failing to breach the 52k resistance. Here the chart shows a very strong and clear bearish setup with the potential of another price decline towards the 30K support where it may be foreseen after a breakout on the neckline of the picked-up structure.
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Disclaimer
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.