I zoomed in after my weekly analysis. I see a strong resistance zone at the 7400-7700 levels.
On the chart is the 200MA and the 700MA(=100MA from the weekly).
Also I have drawn a short-time Fibonacci retracement with the 1.618 at similar levels.
A strong reversal in this area would be a bullish sign, it may complete a giant bullflag.
RSI is also looking weak.
Let's see if BTC continues dropping the next days...
On the chart is the 200MA and the 700MA(=100MA from the weekly).
Also I have drawn a short-time Fibonacci retracement with the 1.618 at similar levels.
A strong reversal in this area would be a bullish sign, it may complete a giant bullflag.
RSI is also looking weak.
Let's see if BTC continues dropping the next days...
Comment:
If the support in this zone breaks, the H&S pattern is still legit, technical target somewhere near the 2.618 on this chart and the 200MA from the weekly.
