Price of bitcoin couldn't break past resistance at 11.7k and bounced back to 10.2k earlier today. It is currently completing the right shoulder of the H & S pattern. RSI is oversold on several larger timeframes (I am using the 4HR), and MACD is soon to cross over. I am looking to take profits between 11k and 11.2k and later open up a short. Will be moving mostly into USD at that time aside from my opened shorts.
Comment:
The right hand triangle I drew was a little off, with the left hand triangle actually encompassing the candles closer to its right hand side with a top of around 10.8k, which would have let me draw my right hand triangle more accurately. However, I realized this and took profits at 10.6k.