BTC/USD has been in a range for quite a long time, finding its support at the range of $48k.
I think it is about to bounce back up to complete right shoulder of possible Head and shoulders pattern.
I expect it to go down once again to take all stop losses of long traders and then bounce up to $53,500 - $56500 range to complete 'M' pattern and then collapse down below neck support, approximately to $35k or even below.
I don't believe it has enough momentum to break $60k without long term correction.
I link my other long term BTC/USD idea so you may take a look.
Please DON'T LIKE and DON'T FOLLOW me if you don't like my idea :)
I think it is about to bounce back up to complete right shoulder of possible Head and shoulders pattern.
I expect it to go down once again to take all stop losses of long traders and then bounce up to $53,500 - $56500 range to complete 'M' pattern and then collapse down below neck support, approximately to $35k or even below.
I don't believe it has enough momentum to break $60k without long term correction.
I link my other long term BTC/USD idea so you may take a look.
Please DON'T LIKE and DON'T FOLLOW me if you don't like my idea :)
