Head and shoulders top
Head and Shoulders formations consist of a left shoulder, a head, and a right shoulder and a line drawn as the neckline. The left shoulder is formed at the end of an extensive move during which volume is noticeably high. After the peak of the left shoulder is formed, there is a subsequent reaction and prices slide down somewhat, generally...
i will explain it in easy words
Btc is facing strong resistance (strong trendline)
btc breakout from double bottom and also made triple bottom
double bottom breakout is looking good and retesing its neckline
Quarter 4 is also coming we can call it good days coming
i already give btc long signal on my account go and follow it ;)
As you can see there is strong support in fib level 0.786 & fib 1 but in terms of news from China, I don't think support can be held. Sooner or later btc fell hard to be aware from long position. I'm a Newby expert will laugh for sure
Signal: Wait for Green or Break Through 43100
As mentioned in my last idea, bitcoin got support in the Demand Zone.
Next to watch 43100, if it breaks through, it should be a Long with small SP
BTC , BTCUSD , BTCUSDT ,BTCUSDTP, BITCOIN ,CRYPTO,CRYPTOCURRENCY
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Another Shakeout after the SEC announced that they want to sue Coinbase.
it's good and easy to be on the Dark Side to create "insider Trading Fuds" and REKT retailers when BTC pumping.
That said this i don't think this dip will be same as last one in May. Bitcoiners start to have habit with bad news trying to create panic.
i am not a shorter in a BullMarket so...
overall BTC is bullish for the long term but for now, I'm slightly bearish but it's healthy for strong uptrend wave C.
1. it may squeeze and consolidate for some time and then break as a double bottom.
2. squeeze a bit and fake dump and then rise up according to higher ATR values.