dradx

entering into critical resistance

BITSTAMP:BTCUSD   Bitcoin

Touching the bottom of this resistance box 7600-7800. This also has the 50 daily MA bearing down on it within the resistance box, pun intended. AND we are at the neckline of the head and shoulders pattern. Yeah that one.

Above that is the 21 weekly EMA currently at ~8260. I think this is a good spot for this rally to again turn to the downside. This also corresponds roughly to the top of my channel there.

Lot of work to do in order to reverse this trend, but some relief for now to the upside.

Still think there is a greater possibility we fall down to the lower box shown between 5800-6100.
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