Bitcoin (BTC): The Last Frontier

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The market takes no particular interest in trading these days: the volume is very low, volatility - non-existent. No wonder nothing has happened since the previous update. Still, this anemic price behaviour suggests that the bottom might not have formed yet. There are a couple of technical bearish considerations:
  • The price failed to break resistance of the descending channel combined with the moving average;
  • The bounce from April 29 took the form of a 3--wave correction;
  • The Inv . H&S pattern will be invalidated below 7300.
My strategy is to go short on the break of 7320 level. Key levels & bearish targets are drawn on the chart.
Comment: Emerging H&S on other exchanges' charts:
Comment: Above 7700++ I will turn bullish and consider waves' extension:
Comment: Morning Triangle:
This is how i see it now

I think you should check out ETH as well, looking pretty strong
+1 Reply
Nickonomics GabrielVasile
@GabrielVasile, Thanks, indeed.
agree with that. volum structure also support this idea so far.
+1 Reply
well i think it is invalidated already but let's watch price action :)
+1 Reply
@Astroc, I'm not doing anything before confirmation these days. The whole world is watching this breakout :)
This is why I'm bullish today
+3 Reply
Hey! Nice review! BTC looks downwards,we think
+1 Reply
IOTA super easy trade
+1 Reply
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