Bitcoin possible Head&Shoulders pattern on 4HR for BITFINEX:BTCUSD by UnknownUnicorn1320329

chartpattern trendanalysis head_and_shoulder bitcoin cryptocurrency

This is only speculation, the TA will be confirmed only if the price action crosses the neckline downwards.

Key Resistance: ~8350USD - 8600USD

Key Support: ~7660USD

Comment:

Neckline crossed downwards and 4hr candle closed under it, H&S confirmed!

Comment:

Although bitcoin is back above the neckline, be extremely careful as this low volume action might still be the continuation of the right shoulder. I don't rule out the option of another bull move but a bearish upcoming price action is a lot more likely, especially after the biggest positive "shill" failing to pump the market (taxday).

trade/invest safe.

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