Possible 3 month head and shoulders forming on BTC.
Price currently in right shoulder, reaching the same highs as the left shoulder (~$7.8k). Expect price to bounce off this level for a few days, before a short pull back to 7.0-7.2k. This pullback would make sense given that daily RSI is currently touching oversold. If this pullback occurs, I'd expect a quick...
10k by july:
Green bar shows strongest long term support, I don't think we will break below it but I could be wrong. Strongest resistance shown in red, over the last 4 months they have been hardest to break. The white lines indicate in theory how early/late we could breakout to still reach 10k based on the move from long term support to 10k in early-mid April. It...
Bitcoin could go back up to 10k and above if the inverse head and shoulders completes. We also seem to be in the 3rd wave of an elliot wave which could also send us up to 1ok. The cross in the blue and red lines indicates a bearish turn but since its above the cloud its a weak signal. The dmi shows not much momentum but more so to an uptrend and the macd looks...
It is my thought that these are a few levels to which BTC will pull back to prior to a second attempt on breaking $10K. I believe 38.2% at around $8940 is the most likely target, followed by $8280 and possibly even $7215. I will be watching this closely.
