ENG holding this downtrend channel hovering around an interesting area at the edge of an volume indicator. If we dont go up then to the next FIB.
To create this pattern it shouldnt fall under 7350, otherwise we may test 7200$ again.
Elf closing to an important place getting ready for a breakout.
Bitcoin head and shoulders pattern finally formed.
What follows after breakout matters also.
Good to see bitcoin performing the right shoulder as we have initially pointed out.
We fell into our support zone, And will probably be testing the area of 6200 aswell. Probably will be having some sideways moments and a movement up toward safety in a few days, There is a possiblity of reaching $6050-6150 and the start the recovery there.
We had a market wide down turn after Bitcoin had a fake bullish break from the flag pattern it had been forming. This could be a reaction to the Binance exchange issue or to the Bancor hack of $13 million in ETH and various alt coins.
Old Resistance for XLm turning into support.
Bitcoin Update BTC defended that support quite well managing to get even a higher low into that range. As we saw the wedge just broke down , but not enough like it usually does, means bulls had strength to move the price up.