TOP DOWN ANALYSIS ON BTCUSD
Bitcoin have shown some signs of bullish trend(remember this market have been in bearish trend ever since the weekly Double Top + Head and shoulder pattern neckline was broken). And you know when this patterns are form on a higher timeframe it’s a sign of strong reversal. In as much am still bearish on Bitcoin i will taking short position(without holding for long) to take Profit on the neckline of 31k - 33k. The reasons for this is that, BTC have broken the counter trend line and retest, we could see a move to the up side coming weeks.
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Remember the Head and shoulder pattern on the weekly timeframe once it retest on the neckline of 31-33k, then we find a selling opportunity. From there BTC come could fall below 18k which is the next major Resistance zone that could turn support zone.