Possible breakout attempt - inverted head and shoulders, neck line broken, trend resistance broken, MACD cross
Note
Levels to watch (resistance along the way up): $308, $318 and $343. Then, final test at the ATH of $348. Good luckNote
Retesting the $308 level, now turned support. Possible double top or cup and handle formation on the 5 minutes chartNote
Hanging man at $318 on the hourly chart, thus resistance level confirmed. Hopefully is a continuation one and the trend continues upwards toward the next level at $343Note
Cup completed; let`s see about the handle:Note
Handle formation in progress; $318 level resistance turn support (approx. 32% cup depth):Trade closed manually
After the completion of the handle, there was a spike to $329.84 followed by a drop below the edge of the cup; also a nice bearish divergence on the 15 minutes chart, a very low volume and BTC climbing again to 20k mark. No point insisting now, I expect a retrace to the trend line support around$305 before going up again
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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.