The chart has been setting up this move for some time now.
We have the neckline of this inverted head and shoulders which allows for a drop to 14,700 while forming a bullish pattern structure. Additional to this neckline, we have a local bearish retest and 3-5 more bearish retests intersecting with this same price range marked in green. Stop loss in purple.
DXY may allow for this move to happen and it could very well be a fast wick, since price only needs to touch the neckline to create a valid justification for a low zone of interest despite bullish sentiments for Bitcoin. Drops are well justified inside of a bullish pattern.
Very sophisticated chart set up. Move would be justified in either a bearish or bullish forecast since it is both at the same time.
There is a lower time frame bearish retest at this level as well as a parallel channel top that can be marked with proper trend lines. The channel bottom is 26,650
Keep an eye out or set alerts for what could be the surprise move of the year.
We have the neckline of this inverted head and shoulders which allows for a drop to 14,700 while forming a bullish pattern structure. Additional to this neckline, we have a local bearish retest and 3-5 more bearish retests intersecting with this same price range marked in green. Stop loss in purple.
DXY may allow for this move to happen and it could very well be a fast wick, since price only needs to touch the neckline to create a valid justification for a low zone of interest despite bullish sentiments for Bitcoin. Drops are well justified inside of a bullish pattern.
Very sophisticated chart set up. Move would be justified in either a bearish or bullish forecast since it is both at the same time.
There is a lower time frame bearish retest at this level as well as a parallel channel top that can be marked with proper trend lines. The channel bottom is 26,650
Keep an eye out or set alerts for what could be the surprise move of the year.