If Bitcoin Break Nick line.... Then Inverse Head and Shoulder should be positive.. Means long Bitcoin after the Break Nick line point which is around 7380 to 7440
Good day guys,
well we had the weekly close under 8 k, not a good sign on my view, per weekly we are in a bear market. We have ton of 9 buy coming up or in game now and a possible descending triangle forming on the daily/4 h ( later a chart of the 4 coming up).
On a overview of the TD and CME open:
M 2 UNDER 1
31 D PRICE FLIP - green 1
W 7 ON 9 COUNT
3D 9...
We are still in the bear channel, with the 50 EMA (Yellow) slowly getting father away from the 200 EMA (Blue). Price seems to be slowly fading to the down, with a possible falling wedge forming, which could give us a relief bounce to the upper line of the triangle.
My short setup is still in play.
Eyes open and safe trading folk.
Summary:
A number of indicators showing major resistance:
> Ichimoku resistance level
> 50/200 EMA/SMA on the 4 Hrly
> Previous resistance levels
> Formation of RSI reflecting price value
> Sloping resistance with LH
All other related information\summary for the MACRO level is in the previous post
Close up on 4 Hrly
