Support Becomes resistance on Bitcoin

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
220 0
This chart shows the head and shoulders line and specific areas where it previously had been support and is now resistance.

In order to regain bullish momentum bitcoin needs to close above this line on the hourly chart.

As we can see, we are forming a head and shoulders on the 15 min chart.

I'm still observing and ready for either a test of lows or break below to new lows.
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