Hello Traders,
Looking at the chart, we see that Bitcoin just broke downward trend line and EMA 20. We also see RSI/MACD convergence, which is very bullish/reversal signal.
Previously, I mentioned the formation of inverse head and shoulder, and some people criticised my prediction. I just do not know how much I need to stress that Bitcoin will not reach $6000 unless there is a continent-wide cryptocurrency ban in the foreseeable future.
This inverse head and shoulder (head portion) formation will most likely take the place in next few days, and I will short 25-50% of my Bitcoin around $9600.
However, before reaching to that point, there are key 2 resistances. First one is around $8600 (red line), and second resistance is around $9300 (orange line).
Happy Trading!
Looking at the chart, we see that Bitcoin just broke downward trend line and EMA 20. We also see RSI/MACD convergence, which is very bullish/reversal signal.
Previously, I mentioned the formation of inverse head and shoulder, and some people criticised my prediction. I just do not know how much I need to stress that Bitcoin will not reach $6000 unless there is a continent-wide cryptocurrency ban in the foreseeable future.
This inverse head and shoulder (head portion) formation will most likely take the place in next few days, and I will short 25-50% of my Bitcoin around $9600.
However, before reaching to that point, there are key 2 resistances. First one is around $8600 (red line), and second resistance is around $9300 (orange line).
Happy Trading!
Trade closed: target reached:
First target reached. Rebuy the dip around $8150.
Comment:
Testing red-line as a new support. Let's see if it hold.