Possible head & shoulder pattern on BTCEUR on the Daily.
Green line = neckline. Measured distance from head to necline is shown and copied to indicate the target to the downside.
Fib-levels (0.382 up to 0.786) are displayed on the chart for possible targets in case of a short.
First target (based on the H&S), around EU20.500 is in between the 0.500 and the 0.618...
TLDR: attempt to long around 16k-17k with stop at 15k, switch to short if under 13k
Area around 16k EUR is likely to be at least a local bottom, given:
-strong confluence of fibs
-technicals entering oversold zone
-symmetry of a lower degree: -73% correction
-close to major top of 2018
-coincide with volume profile wedge, albeit a small one
A rebounce could...
I made this observation for myself to see what a year in crypto really looks like, let's see how right or wrong one can be, tread carefully. Personally, see it going to 30k, but that is speculation. Safe trading.
Divide it all.
BTCEUR - in slightly downside biased range and currently addressing top of the 4-8hr range, likely pullback occurs before more .
In case of converting red zone in to support - likely our daily red zone opens up for the taking.
The green arrows up are buy bottom buy signals - while small red arrow is sell the bounce signal - they're automatically generated by...