Reasons to look at potentially going short;
- Third touch of descending trendline
- 61.8 fib retracement
- Back testing Short term support now possible resistance
- Heading towards dynamic resistance (200MA)
Things to consider before;
- A lot of buying pressure over the last few days (2 of 3 Strong Bullish Candle closures)
- DXY looking bullish, Could see some...
1) Hammer recently printed-
2) Recent candlesticks portraying bulls failing to maintain bullish momentum.
3) D1 Fib levels indicating pullback to reach 0.618 level at a price of 1.20901
4) 3rd trend line bounce on upward trend line
-Overall bearish move on Monthly chart
-Hammer look-alike printed on weekly zone (Weekly chart)
-0.236 fib level is minor zone and shooting star has printed
-PA is likely to retrace shortly to the CTL
-Bullish engulfing pattern formed
-Price Action Approahing resistance trendline for a lower high
-Triangle target reach hence possible pullback to the upwards
-There is Bearish Big Belt candlestick pattern that printed on a weekly zone
-A Kangaroo Tail printed on the weekly timeframe
-Price action probably heading to the monthly zone in the long run
As I'm sure everyone's aware bitcoin has of lately shit itself, some could have called it before the fundamental onslaught it took earlier in the week through technical analysis like i did from $4680 in #Metalpays Telegram group whilst others are biting their nails struggling to get to sleep haha. Regardless off the INV Pennant geometry within the price action we...
