Morning folks,
Miracle has not happened and BTC barely has completed 1H reverse H&S target. Fast drop below the neckline, below the right arm suggests drop below the head as well. Additional bearish signs on daily chart makes us think that
we could go to next extended 1.618 AB-CD target at 8145 area that agrees with strong daily 8.0K Fib support.
BTC could return bullish context if it climbs back above 9.8K level. Meantime, until this has not happened - we keep an eye on resistance levels and watch for bearish patterns, mostly for "222" Sell", as downside action could continue.
Miracle has not happened and BTC barely has completed 1H reverse H&S target. Fast drop below the neckline, below the right arm suggests drop below the head as well. Additional bearish signs on daily chart makes us think that
we could go to next extended 1.618 AB-CD target at 8145 area that agrees with strong daily 8.0K Fib support.
BTC could return bullish context if it climbs back above 9.8K level. Meantime, until this has not happened - we keep an eye on resistance levels and watch for bearish patterns, mostly for "222" Sell", as downside action could continue.
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/