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Andre_Cardoso
Jul 6, 2019 10:57 PM

(2h) iH&S | technical dbl bottom | bullish 2618 | bearish crab Long

Bitcoin / U.S. dollarBitstamp

Description

BITSTAMP:BTCUSD

Technical double bottom at the right shoulder now supported by one ascending structure trendline forming the bullish 2618 at the golden fib but also by the 200 moving avarage.
The projections for 2618 pattern formation sending the price for a retest of the most recent highs and daily fractal, with one eventual bearish crab pattern projected above at 1285, which may also force a pullback for a retest of the broken fractal as a broken resistance and as a eventual support.

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Previous structure trendline resistance now as potential support! Break or bounce!

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... the 161,8% reversal fib extension

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Inverted head and shoulders

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4h chart:

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Comments
captain_smollett
Excellent one, Sir! As always
EddieGillies
Awesome analysis love the way you broke that down and analyzed the harmonics and fibs
Andre_Cardoso
@EddieGillies, Thank you Eddie! Always a pleasure to share my views! You are welcome!
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