ntaylor360
Short

BTC might be forming a lower right shoulder and heading down.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
1) BTC appears to be forming a lower right shoulder.
2) Notice the bearish divergence with the RSI .
3) Very few buyers according to the blue histogram.

BTC needs to retest the $7,500 level, expect Alt Coins to follow down as well.
BTC just gave us a big red candle which appears to have completed the right shoulder pattern. If we start to go into the $7,800 range expect a mass sell off and retrace to $7,500. Be very careful with any alt coins you are in as they will also retrace when BTC drops back down.
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