Sholders
The Death Cross I was warning about sent the price plummeting.As I had said a couple days ago in a previous idea the death cross of the purple and blue moving average lines was dangerously close to occuring and would either cause a plummet in price or could potentially bounce off as well. The probability was much more highly in favor of the cross happening and at the beginning of the current days candle the 4hr chart 50EMA crossed under the 200EMA sending the price dpiraling downward. Major support happened at the 9200s region just as I was expecting and because of it we have seen a boucne back up. However the 50ema is still very much under the 200ema on the 4 hour so we need to see it reverse course soon if this inverted head and shoulders is going to become valid. The current bounce looks good on the 4 hour but the candlesticks on the daily seem to suggest a little more downside. On the 4 hour we got a nice green bullish reversal hammer though so hopefully the current 1 day candle will close as some sor t of doji. I still have hope for the head and shoulder pattern. Be cautious and try not to make any big moves at this time.
Perfect entry point Breakout over the head of a head and sholder patern on the one hour chart. shows a perfect entry point after confirmation to the upside hold till 14700 within the week with one coin thats a 1700 profit sell it there and wait tto get back in at 9k if it doesnt break out of the channel to the upside.
