DrDovetail

BTC threatening to break inverted cup and handle neckline

BITFINEX:BTCUSD   Bitcoin
Hard to believe that when the 1 day rsi is this close to the oversold zone that this inverted cup and handle would have any room to plummet here. However if it does indeed trigger we could be lookin at a dip all the way down to 3.6-3.7k . There's a chance if it does trigger it would be a flash crash of sorts. Which could be what could finally catapult the price back up to where we need it to be. there' is 2 and a half hours left on the current 4hour candle to climb back above the neckline so for now we will wait and see...but it is indeed looking very ominous for now.
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