Bullish clues:
- Inverse Head & Shoulders (Head and Shoulders bottom)
- Price crosses upward the 200 exponential moving average
- Price crosses upward an important price level (lots of volume at $39,500 / volume profile indicator)
- RSI above the 50 level
The US Bitcoin reached the price level of $40,000 and formed an inverse Head & Shoulders chartist pattern, which is a reversal pattern. The US Bitcoin broke upward in one hour the 200 EMA and the inverse Head & Shoulders neckline. Wait a pullback on it to confirm the reversal pattern.
=> $42,000 (important resistance zone)
=> $43,000 (important price level, corresponding to the 38.2% Fibonacci retracement level)
=> $46,000 (resistance level)
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
- Inverse Head & Shoulders (Head and Shoulders bottom)
- Price crosses upward the 200 exponential moving average
- Price crosses upward an important price level (lots of volume at $39,500 / volume profile indicator)
- RSI above the 50 level
The US Bitcoin reached the price level of $40,000 and formed an inverse Head & Shoulders chartist pattern, which is a reversal pattern. The US Bitcoin broke upward in one hour the 200 EMA and the inverse Head & Shoulders neckline. Wait a pullback on it to confirm the reversal pattern.
=> $42,000 (important resistance zone)
=> $43,000 (important price level, corresponding to the 38.2% Fibonacci retracement level)
=> $46,000 (resistance level)
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
Order cancelled:
Inverse Head & Shoulders invalidated. The Bitcoin is forming a range between 31,000 and 42,000 USD