The correction should take place now and BTC should test $3800. Bearish divergence on the 4h chart.
Comment:
well, target almost reached but that speed that it achieved it with makes me thing we may dump further. I'll look into it. but bulls need to hold $3700 if the want to make that big inverse head and shoulder into reality.
Comment:
$3661 needs to hold or the inverse H&S is invalidated.
Comment:
The inverse H&S is very much still into play. Bitcoin’s inverse H&S doesn’t look perfect but the total market cap chart shows a better pattern. If we trade between the blue lines for couple of days or weeks then a powerful move upwards toward $5600 is very very possible. Like 85% I’d say now.
Comment:
Looks like $3660-$3730 is a support area and should hold. We should see consolidation above or in this area for a few days before going back up.
Comment:
Price Range is getting tighter, volume is steady, big move may come up soon. However I doubt it will happen in this daily candle so we might have to wait for the next daily candle. For the moment I see a inverse bart move on low volume so we should be going up. $3661-3730 keeps providing support.
