As we can see we are in a critical point on the RSI
And many indicators are overheated
Bitcoin will drop very soon with that head and shoulder formation on the smaller time frame
XRP looks like a better deal for now
Looking at the chart we can draw a line from the all times high to the 6k brake down.
This line will act as strong resistance for the actual price, and maybe one of the most important one!
If we can get one more bull candle to push the price a little higher, that will be awesome for Bitcoin
As the candles tells us, we have the 3800 level serving as support
If the chart will confirm the bullflag we will probably see the price moving above 4000
Looks like is getting squeezed by the resistances. with the support we can clearly see forming a triangle witch will brake soon
it can go to the downside testing 3500 or maybe lower, but if is gonna be to the upside it will be masive!
Let's say this is a falling wedge and the price just topped at the resistance level, probably the price will go in the 3500 $ area before braking out of this formation.
In the next 24 hours we will see Bitcoin braking out of the triangle.
If the price will increase it will give us a beautiful head and shoulder pattern and I expect the price to go above 5500$
I see a bearish divergence on the 4h chart witch means bitcoin will retrace a little bit.
We have the 61% fib level matching with the support of the left shoulder.
if we can get this head and shoulder formation probably the price will go above 5500 $
On the weekly time frame we can see ETH/BTC holding the support area braking out of the triangle
In the RSI and Stoch RSI looks like we are getting a bullish cross!
It will not surprise me if this is the beginning of a new rally
Many Altcoins are in the point of braking out in the next couple of weeks.
The Erc20 tokens will push Ethereum up , is a synergy in the...
