Dear traders and followers,
the Bitcoin price is in short term up movement and going to reach the down trend line within next 24-48 hours
The price retraced several times from this trend line and resistance.
A failed break above the drawn trend line would implement an head and shoulder pattern on 4 hour chart.
The Neckline is at 9150 - 9200 $ --> only a break and close under this area confirms the H&S pattern.
Indicators:
MACD buy volume grows only slow and seems to going down again, baselines going to cross bearish soon --> sell signal
RSI baselines reached resistance at 57 points and seems to going into sideways movement which is sell signal as well.
Wait for market to close several times under the trend line before open short.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
the Bitcoin price is in short term up movement and going to reach the down trend line within next 24-48 hours
The price retraced several times from this trend line and resistance.
A failed break above the drawn trend line would implement an head and shoulder pattern on 4 hour chart.
The Neckline is at 9150 - 9200 $ --> only a break and close under this area confirms the H&S pattern.
Indicators:
MACD buy volume grows only slow and seems to going down again, baselines going to cross bearish soon --> sell signal
RSI baselines reached resistance at 57 points and seems to going into sideways movement which is sell signal as well.
Wait for market to close several times under the trend line before open short.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
