You can see it here:
Now, Bitcoin is printing the classic pattern, with the right shoulder being formed on increasing .
To provide additional and useful information, I also added the Fib. levels for this next move.
Bitcoin ( BTCUSD ) Levels
- Support: $7188, $7044, $6840, $6640, $6515
- Resistance: $$7370, $7850, $8220, $8750, $9600, $10136
The bold orange line is the "neckline" for the iH&S pattern. Above this line, Bitcoin can make a strong move to the upside.
Below the neckline, the pattern can easily become invalidated and we see Bitcoin go lower.
I am of the view and I believe Bitcoin will move higher in December 2019. Now the chart signals are fully starting to support this view.
Here is my previous analysis with an update on the Altcoins market bullishness and growth:
Thanks a lot for reading and for your continued support.