BTCUSD - $4476 holds, we could see a throwback to $3000
This is a head and shoulders lookalike pattern on BTCUSD.
Price has retraced back to the 4476 zone which was a strong resistance back in Aug 2017.
At yesterday's close, it closed at the lows with increase in volume.
With that, I will no be surprised to see BTCUSD heading lower, towards the low in Sept 2017 around $3000.
I have no positions in BTCUSD, just practicing my analysis using VSA.
This view aligns with my weekly chart view 2 weeks back where I called for further correction in Bitcoin.
Price has retraced back to the 4476 zone which was a strong resistance back in Aug 2017.
At yesterday's close, it closed at the lows with increase in volume.
With that, I will no be surprised to see BTCUSD heading lower, towards the low in Sept 2017 around $3000.
I have no positions in BTCUSD, just practicing my analysis using VSA.
This view aligns with my weekly chart view 2 weeks back where I called for further correction in Bitcoin.
Comment:
No selldown, bitcoin broke upwards again. I'm glad my analysis did not produce a sell signal. Congrats to all miners. I have no positions in bitcoin.
Bitcoin completes Bat pattern. Any big red bar with high vol will be the start of a nice move down to $3000.