Vitaminhovers

Bitcoin Analysis in short time frame

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin move isnt looking good at this point where there is no volume and the formation of a scary pattern is under way in short time frame. Staying above 11k is good. But breaking the green zone completes the formation of Head and shoulders which is bad. Bitcoin has 100 MA support and also the trend line support at present. But with no volume everything gets f***ed up. If we break the green zone 10,400 might be the next stop but according to H and S the next stop will be at 10,100-10,200. So lets hope that it bounces from here and stays above 11k where it also has cloud support.
What bitcoin has been doing previously is that keep breaking the trend lines and bouncing a little by gaining support from the next trend line but in this case the next trend line is a bit low at 10,400.
Note: This is just my analysis and not a financial advice.
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