Bitcoin is being an insecure little schoolgirl who got dumped for the first time. Looking at
XBTUSD.P
we can see that it has formed a giant head and shoulders pattern and has broken down through all support after it failed at 10 000. We can see the 1200 sma is providing some support, should it hold strong we can expect to see a quick retest of 9500 however if
XBTUSD.P
continues to cry and be insecure we can look to the head and shoulders pattern which has provided us with breakdown target of 7500 area.
key areas:
8300(long term uptrend)
8000(psychological)
7500(H&S target)
Cryptodad looking out for you, if you found this analysis useful or insightful, please like, follow and share. If you didn't, please keep it to yourself, its rude to gossip.
XBTUSD.P
we can see that it has formed a giant head and shoulders pattern and has broken down through all support after it failed at 10 000. We can see the 1200 sma is providing some support, should it hold strong we can expect to see a quick retest of 9500 however if
XBTUSD.P
continues to cry and be insecure we can look to the head and shoulders pattern which has provided us with breakdown target of 7500 area. key areas:
8300(long term uptrend)
8000(psychological)
7500(H&S target)
Cryptodad looking out for you, if you found this analysis useful or insightful, please like, follow and share. If you didn't, please keep it to yourself, its rude to gossip.