DrDovetail

BTC has yet to close 2 consecutive 4 hour candles above the neck

Long
BITFINEX:BTCUSD   Bitcoin
BTC has yet to close 2 consecutive 4 hour candles above the neckline and instead continues to flirt with it and play hard to get. We've bounced under the tline but are still well above the 50EMA as well as the buy sell sign so it's still very much a buyers market see this as an opportunity to buy the dips...with each passing day breaking the neckline shoudl become easier and easier to acvhieve though so far we've yet to close a singlr 1 day candle on the 1 day chart above the neckline. I still am fairly confident and maybe a little more hopeful than my own good that we will soon see a close of at least 3 consecutive 4 hour candles above the neckline, and hopefully 2 consecutive 1 day candles finally confirming a breakout. One downside to a prolonged breakout is since this inverted h& shoudlers is sloping downward the longer it takes to break the neckline the lower the target price spike of the breakout becomes. I'd say if we're still gonna see a breakout it's gonna happen sometimes this upcoming week or at the very latest by the 15th.
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