In the last post it was said that Bitcoin will be considered bearish(and $42,000 will be expected) till we could close above the left shoulder of a Head and Shoulder pattern that formed. The bulls showed up after several failed attempts from the bears to push prices down, and successfully closed price above that level. However, bulls have struggled to reclaim the...
On my last analysis I predicted BTC to $42,000. it fell down into the channel and then seem to reverse. If you look closely. An head shoulder pattern formed recently, its an ugly one and not particularly textboo definition, but H&S regardless. I do not regard this pump out of the channel a bullish reversal until we close above the right shoulder. Only that will...
BTC has broken down into this channel it has been trading in for some weeks now and it is indicative of strong bear moves. I predict a retest of the rectangle at 42K at least and maybe a wick to touch the trendline at the very bottom just to hunt stop losses and grab liquidity. if this candle closes this way then I think this is the most likely scenario.
