Trade_Point

BTCUSD Bearish Outlook

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Here on the 8-hour time frame, we can see that after an impulsive bullish move price made a head and shoulders pattern which signaled a bearish price reversal. After price made a break out from the neckline, it formed a bullish corrective pattern in the form of a rising wedge . Now, the price is looking to retest the 61.80% Fibonacci retracement level before continuing to the downside.

Comments

thanks I like this analysis! my view
Reply
GoodWork
Reply
Very good technical description! Appreciate it
Reply
HAVE LOOK MY IDEA--- BITCOIN in a neutral ZONE
Reply
nice work
Reply