BTC inverse HnS forming, reversal?
Welcome to my BTC analysis.
The MACD looks bearish, it's nearing the upper resistance. Also the RSI is looking a bit bearish. BTC is approaching the 0.236 fib and the 0.5 resistance from the fib fan. They will probably let Bitcoin drop to finish the E wave of it's pennant. Then I expect a run to around 7500-7650. Hopefully it will break through the neckline of the inverse HnS that you can see on the chart (upper yellow line). I will give some updates when it happens.
This is not a recommendation to buy/sell.
The MACD looks bearish, it's nearing the upper resistance. Also the RSI is looking a bit bearish. BTC is approaching the 0.236 fib and the 0.5 resistance from the fib fan. They will probably let Bitcoin drop to finish the E wave of it's pennant. Then I expect a run to around 7500-7650. Hopefully it will break through the neckline of the inverse HnS that you can see on the chart (upper yellow line). I will give some updates when it happens.
This is not a recommendation to buy/sell.
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