BTC USD Forecast 4/27/19 - Bitcoin needs to recoup

What's on the chart:

Thick Red Line: 50 Week MA
Thick Blue Line: 200 Week MA
Blue Dashed Line: My projected 200 Week MA

Thin Red Line: 50 Day MA
Thin Blue Line: 200 Day MA

Dotted Red Lines: Support/Resistance
Yellow Lines: Key price levels where the price moved quickly away from.

Yellow Box: Accumulation/Distribution Zone, or "comfort" zone

What I've noticed:

In the yellow box I assume bulls have many buy orders set. As price comes down to this zone, it struggles to break through. Bears either jump in and sell into the buy orders or sell orders are placed at the bottom and quickly fill. What is happening is the demand (supply of buy orders) is dwindling. Each time price comes back there are fewer buyers because old buyers are already in position or new buyers are less confident in the upside. Pattern traders will also notice a head and shoulders pattern setting up. Which is a bearish signal. I predict price will rally one more time and when if comes back to this zone price will fall through. The demand (buy orders) have been eaten up previously, the H&S pattern has formed, and as price falls through stop losses will be hit (sell orders for the bulls) and short positions will be filled. After that price is likely to fall back to the next key price level (yellow line) and may even go lower to the 200 week MA. At this point another accumulation/ distribution phase will happen before momentum shifts and takes off.

Comment:

Update: Forecast still holds