BTC unfolding??I do not like what I see in this chart and I am really wish to be proven wrong by the markets.
However, as it stands, it does look like BTC might be on it's way for a major drop in price.
I plotted both a TD Projection and a Head & Shoulder pattern on the chart, both figures are hinting at a very strong possibility for a drop in price to less than $20.000.
As a strong advocate and believer in this technology and it's social implications I do really wish to be wrong.
Please, tell me I am.
Thank you.
Thomas
Accumalate or neutral zone in Thomas CookAs can be seen the price is taking support in the cloud. Currently is in accumulate zone as seen from previous entries in the cloud zone and the way it has always been a support for the price. Look to enter after this week candle formation and next week price action to confirm whether to accumulate or look for exiting the issue once price closes decisively below the cloud.