Astrofxstudent
clear inverse head and shoulders pattern on this pair to 1.3500We can see that after price has come near the K.L of 1.3250, there has been a pullback 3 times. Could this indicate that price has found resistance and we could be heading back towards 1.2500? The moving averages are still crossed over to the downside but price is in the middle of them meaning we can see a change of direction soon. BUT we can see that there has been weeks of bullish movements which can continue this week and head back towards 1.3250 then 1.3500.
BITCOIN 10K RET UPDATE Last analysis I provided my three overviews which were:
1- Monthly resistance (9784) will become new support, consolidate for a while and shoot up to our next target 11k, 11133 to be exact.
2- Retrace to 4hr fib 38.20% level (9244), 2nd leg and head for the target 11133.
3- Retrace back to Daily 38.20% fib (8435), which was also previous monthly R/S, and a major monthly trend line (Support) crosses through.
Bitcoin 7.56% is heading for the starts but needs to retrace in order to keep it making higher highs! The question is how much will it retrace?
*Update*
-> According to first overview, monthly support 9784 held and pushed the price to above our target (11133) to 11400.
-> After making all time high, bitcoin prefectly retraced to our 4h 38.20% fib level 9244, as told. Price found it's new support level and, now its back up to 11300.
-> Our next target is 12483 which is next monthly resistance level!
Could we do it or its a trap before major correction to 8000 level?