BTC Head and shoulders, Broadening top possibility
BTC should have some movement soon.
possible H&S off the 150 SMA (150 SMA when price is above look for longs, below shorts)
The H&S will play out and we dump to 9400 or it REJECTS (we may not even make a 2nd shoulder and go up here) and we have a chance of forming the broadening top which we can then look at opening a short or long trade depending on what we see.
For the latter to happen we need to reclaim the 150 SMA in yellow.
The grey areas are WEEKLY orderblocks, blue are 4hr orderblocks. Support and resistance can be found in these zones.
possible H&S off the 150 SMA (150 SMA when price is above look for longs, below shorts)
The H&S will play out and we dump to 9400 or it REJECTS (we may not even make a 2nd shoulder and go up here) and we have a chance of forming the broadening top which we can then look at opening a short or long trade depending on what we see.
For the latter to happen we need to reclaim the 150 SMA in yellow.
The grey areas are WEEKLY orderblocks, blue are 4hr orderblocks. Support and resistance can be found in these zones.
Comment:
Comment:
Failed to hold 9700 to times now we have fallen back under the weekly OB and just holding on a thread here on the red level ive marked earlier. Need to bounce soon or risk putting in another Lower Low on the smaller timeframe.
As long as we hold 9700 we can try for 10000 again.
But if we dump under the SMA ive outlined in red where we can look at next.