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KryptOrchid
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btc btceur chartpattern longtermanalysis short shorttermanalysis Less Tags Show All Tags
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Likely further downward correction at neckline...
BTCEUR, 1D
Short
BTCEUR: Likely further downward correction at neckline...

We're currently testing the 23.6% Fib support level, which if broken can cause the price to fall to the neckline. The second shoulder shouldn't top the first one. A further correction downward could face two possibilities, a rebound around the 2 stdev Bollinger band followed by a retracement once the 1 stdev Bol Band is hit, or straight to the lower trend line.

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