Looks like there is a triple top formation in 15 min charts. There is an obvious overhead resistance at $680, but triple top formation suggests the critical support is around $650. If we break it, the fall should go at least to $620.
Interestingly, it was also published here that based on weekly Ichimoku clouds $650 is also a critical support.
Any thoughts and comments appreciated
Comments
Asterix
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$650 still providing strong support, although my line in the chart is not drawn accurately, it is more at $653
Bitstamp: (Pending confirmation, but the sell order says it all)
Diabolicus
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spot on
Asterix
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Thx :)
Asterix
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June 4th update: theoretical target of this formation, $620, has been reached and now we observe a pullback, with neckline around $650 acting as a resistance. It also coincides with sMA 200, which should make this resistance more powerful
LastBattle
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Going as predicted. Triple top dump is starting to take shape :)
Indeed, looks like we are going to test $650 support soon.
Asterix
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There are also some negative divergences developing
LastBattle
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Nice. It looks like I am not the only one seeing it.
Aside from a triple top formation on the 15 minute interval, we are also seeing a huge triple top on the 1 hour interval.