I posted yesterday about a potential H&S situation with Bitcoin. 1h chart shows it almost being a sure continuation of the correction at this point. Neckline is based on the 4h chart for better accuracy. We may see a bounce/reversal off of 8k, but I can see it going in to the 6k territory if we pass that support zone.
Trade wisely!
Trade wisely!
Comment:
Looks like we have broken through the upper part of the pennant to go back to the middle of the price channel. I still believe that this will only serve to lengthen the amount of time it will take to reach the inevitable decline. Then again, this is Crypto, so I guess we will just have to wait and see. Nonetheless, be vigilant and react accordingly whichever way this goes.