BTCUSD has the Cryptosphere feeling like it's 2017 all over again!
After on going months for the market to recover we finally have the pump..or do we? Bitcoin has always been respective of strong buy and sell walls which makes TA possible to predict it's next move. Many are expecting the second shoulder to form and complete a H&S pattern. It should be noted as a short possibility or a potential fake out. A better short scenario will occur at the $8,000-8,100 if breakout occurs. Look left and you will find what used to be a previous support zone has now become a massive sell wall. If the sell wall holds and no fundamental pumps occur, expect a drop to the $6,300 which fills out the volume left from the previous bearish wick.
After on going months for the market to recover we finally have the pump..or do we? Bitcoin has always been respective of strong buy and sell walls which makes TA possible to predict it's next move. Many are expecting the second shoulder to form and complete a H&S pattern. It should be noted as a short possibility or a potential fake out. A better short scenario will occur at the $8,000-8,100 if breakout occurs. Look left and you will find what used to be a previous support zone has now become a massive sell wall. If the sell wall holds and no fundamental pumps occur, expect a drop to the $6,300 which fills out the volume left from the previous bearish wick.