agent474

agent474

With all respect to great minds of TradingView, I can't understand why they call this thing a H&S. The only real reason to go lower - bad news about Bitfinex.

agent474

As you can see on the chart, there is a clear resistance (purple one) according to RENKO. Notice that we have already seen this kind of pattern on RSI and Stoch RSI, just compare them and if you can find any difference - we'll discuss it in comments. SHORT seems obvious here, final target is $3900.