VincePrince

BTCUSD - More evidence for BITCOIN to go down?!

Short
VincePrince Updated   
BITFINEX:BTCUSD   Bitcoin
_______________________________________________________________________________________________________________________________________
Hello traders investors and community. This is an update analysis on my recent SHORT analysis about BTCUSD .
As you can see in my chart BTCUSD is about to form an huge head and shoulders pattern with the right shoulder about to complete.
We have strong resistance above us at 12100 - 12200, when we touch this area there is a high probabilty for an next pull-back and sell-off.
_______________________________________________________________________________________________________________________________________
As now the price is consolidating with declining volume and momentum, normally such a movement is shown before more decline in price.
Also the psychological range above 10.000 is holding now, this is why we seen some up-moves the last days, but this will not be forever as i expect.
_______________________________________________________________________________________________________________________________________
When we cant hold the range above 10.000 the price will shrink faster, as it now does with lower momentum. So be aware!
This pattern can be traded with confirmation of the head and shoulders formation.
_______________________________________________________________________________________________________________________________________
Thank you for watching my analysis love you all! Give some support and you will see more market insights in the future!
This is only educational and should not used to take action in markets!
May all happiness and luck come to you friends!
_______________________________________________________________________________________________________________________________________
Comment:
Broke trend-line of the head and shoulders pattern. More selling pressure is expected.
Comment:
Head and shoulders pattern is confirming
Comment:
H&S confirmed, we will see more selling next time
Comment:
Thanks for everybody who supports my work! You are the best!
Comment:
The information provided is for educational purposes only and should not be used to take action in markets.
Comment:
ANALYSIS UPDATE: BITCOIN pulled back within the range to increase the bearish waves and complete the major head-shoulder formation.

Since BITCOIN finalized the whole formation it reached out to all of the target-zones and also formed a main reversal afterwards.

►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.