RickRolled
Short

BTC head and shoulders short to re-test lower channel

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Potential head and shoulders short to re-test lower channel.

Let's see if BTCUSD             breaks lower here to continue the H&S pattern. The lower wedge trend line sits at around $10,700.

Note we really need to re-test the wedge breakout to confirm a healthy uptrend anyway!

If the lower channel breaks, we are headed to re-test the $10k tether support fund, followed by the $9k long term trending support.
What do you mean by the "$10k tether support fund"?
Reply
@siwe7, lately when price reaches $10k, tether begin printing money out of thin air. Then price rises. So 10k is quite a strong wall, due to huge tether investment.
Reply
siwe7 RickRolled
@RickRolled, okay, so you were serious :D
well... if that "support" comes from tether, we all should ask ourselves, what happens if this support is gone...
Reply
@siwe7, exactly! ;)
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