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Sashmajik
Apr 1, 2021 3:06 AM

BTC looks to be creating a Head and Shoulder Pattern - BEARISH Short

Bitcoin / TetherUSBinance

Description

BTC seems likes it is in the midst of finalizing the right shoulder. If this plays out then a possible BEARISH head and shoulders patters might play out. Stock RSI is about to TOP, RSI is in a downwards pattern, and there is a possibility that the MACD uncrosses at the last-minute.
When taking into consideration that 99% of people are expecting a bullish April, as well as the overall exuberance and profits made thus far, it is not inconceivable for BTC to do the opposite and keep us on our toes. For now, I am taking profits and waiting to see confirmation signs of a possible next trend, either way.
Comments
Xiu-YoZ
Mark my word.. It will bullish. I follow you and see you later
TayeTrade
@euphoricSnail85980 do you think it’s gonna retest the 54,000 area and reverse back upwards?
Xiu-YoZ
I think around 54 or 56 area.. Then back upward..
Xiu-YoZ
Or not touch that area again
UnknownUnicorn18002229
😓these drops 😩😒
Sashmajik
@euphoricSnail85980 I suppose its see you later
Sashmajik
scary how right I was, next time people should look at the charts objectively without emotions. Hope you all are safe and well!
Servo_Tom
That's not a downward trend on the RSI if the first peak is lower than the 2nd.
akhan3767
bullish on 4 hour chart
Onegoodtrade27
Seems on point. MACD is always a lagging indicator. RSI is probably the only indicator that gets close to real time. Nice call on divergence.
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