2Legit

Massive break Coming your way!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
There are alot of patterns possibly in play. We need to see how the volume goes because it may prevent this inverse H&S and result in a large bearish wedge . We have support from 4k to about 4075 area depending on the exchange your looking at. We have a fib line right there also but dont forget we have the our 50 day moving average pushing down on the price and rejected the most recent bull l attempt made to break out and play out the wedge or H&S that is possibly still in play. I have to admit that the conviction just doesn't seem to be there and this could be a another flash crash as we get coiled up more and more if the price cant push above the trend line sloping downwards or possible neck line. Be careful with your trades make sure to have your trade planned out with a stop in this area if your not already.

Important trendline (White) above: which is pulled from 1. April and second touch 24. June
MACD confirms the uptrend movement
RSI confirms the uptrend movement
DMI is bullish and confirms that bulls still strong
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