Alright so from what Im showing you here, it should be pretty clear with whats going on. Inversed Head and Shoulder pattern that we all know and love. I am pretty confident in what I see here. Entry level should be expected around 52,500 and 52000. Round numbers are psychological numbers. Im expecting for BTC to run up to 55,000 and then rebound a little before...
So the price has been consolidating for quite some time and i think we have reached the point of a reversal of some sort... im stuck between Bullish flag or a complete price reversal... but, in my prediction (using previous suport and resistance) ive drawn out lines indicating on what might happen next... kinda like telling the future. I drew two lines.. both...
Here is what I think... by looking at the peaks the price hits and comes back down is a likely thing to happen in the next couple days or so. I circled the previous peaks with yellow to show you that it is the same pattern as what is going on now with the red circle. The MACD is turning downwards and there is a slight divergence. Pay attention to the price pattern...
