Bitcoin is forming a beautiful textbook head and shoulder pattern and has exited the bullish trend channel I talked about in my past idea. We have to watch the price action really closely along the first support line on the 0.618 fib level, if this is broken we will see all hell break loose.
What is a head and shoulder pattern?
After a corrective wave, bitcoin appears to be back on the track it was in prior to the December rally; that unhealthy growth I talked about in my past idea.
BTC Double bottomed and broke out of its temporary downtrend channel, turning its resistance into a support.
The area labled "STRONGEST SHORT TERM RESISTANCE" is an area to watch for bitcoin,...
As many of you know the market has been due for a correction for a while, the growth of bitcoin has been far from natural in these past six months.
BTC broke trend line and has successfully formed h&s pattern.
With a lack of volume in the following hours we could see BTC heading down to lower support levels and probably finding itself at it's first...