I'm getting more bearisch as the RH&S does not behave as expected by my previous Ideas.
But it's weekend and things behave different while WE.
Now, i never used DOW Theories onto Bitcoin and i cannot recommend that.
Still it is a very simple way on looking at price movement and is best applied to longer intervals.
Technically speaking. If we look at the current...
We're approaching THE critical point of the current reverse head and shoulders pattern.
RSI gives us enough room to approach the neckline with enough steam. The question is, will the bear have enough coins left to build a wall that can bear the bulls AND the bears whom go FOMO?
Look at the volume fellow traders. Bears spend a lot of coins getting us down here..
I think we are at a good point for a reversal, we broke under the current bear trend and bears put a lot of effort to press the price down.
The bulls are quite skeptical yet. But watch carefully for this beautiful reverse head and shoulders building right here.
If this formation goes out well, i think the next rally is in front of our door.