Potential Pullback For Bitcoin Before We Test The $7,000's
So we have a few things going on here that tell me we're going to have a pullback.
1) Looks like we've formed the left shoulder and the head, and that we're going to create a right shoulder. I don't think we'll close below $6,167.04 here on this chart, which if we did we would go down further to complete the pattern.
2) We have -div here on the 4 hour chart on the 20 setting for the squeeze. (price goes up, while squeeze trends down)
3) I believe we need to test between $6,300-$6,167 to complete the right shoulder for an inverse H&S.
The area for the bounce lines up pretty well with structure, important fibs lines, and also the vbp volume gap.
1) Looks like we've formed the left shoulder and the head, and that we're going to create a right shoulder. I don't think we'll close below $6,167.04 here on this chart, which if we did we would go down further to complete the pattern.
2) We have -div here on the 4 hour chart on the 20 setting for the squeeze. (price goes up, while squeeze trends down)
3) I believe we need to test between $6,300-$6,167 to complete the right shoulder for an inverse H&S.
The area for the bounce lines up pretty well with structure, important fibs lines, and also the vbp volume gap.