BINANCE:BTCUSDT   Bitcoin / TetherUS
BTC has broken bellow channel support (green) trading below monthly VWAP . Wider channel (Orange) has solid convergence with trendline support (yellow - alternated resistance from all time high trendline), neckline of HnS pattern, and the 0.618fib retrace at 7830. This also fits the criteria for Wave 1 and 2 retrace for bullish continuation of wave 3. Possibly early bounce at 8437 (alternated resistance from left shoulder), which would still qualify for the second type HnS pattern. With the StochRSI rather low and making a second pivot down, this may not have the steam to push to 7830 without atleast a pullback around 8430. Timeframe over 4-7d.


Nice analysis
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