jdotk77

BTCUSD Short Term Analysis

Short
BITFINEX:BTCUSD   Bitcoin
Majority of the market are eyeing an INV H/S pattern that looks more more less likely to me now. The right shoulder is taking too long to form and is forming bearish continuation patterns on the lower time frames. Lot of the altcoins in the market have retested their 6K breakdown targets already. BTC 1D has a bband squeeze forming with heavy resistance above (1D 55ema). Definitely a big move is expected due to lack of volume and sideways movement the past several days. This is my current prediction. As long as we dont break above 4100 on finex, plan is valid.

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