fiscalshrike

fiscalshrike Updated 

BTC is showing signs of weakness and has been rejected in the 7400 region. This is one scenario I can see playing out by using trendlines and support/resistance lines. We could have a formation of a head and shoulders as BTC bounces off of the 4Hr blue trendline and approaches the stronger areas of resistance in the 7100 region. Just my humble thoughts... Leave...

fiscalshrike

I see a possible head and shoulders pattern forming with a number of trendlines, supports and resistance areas contributing to its likelihood. It looks like BTC might make a break to the upside with an ascending triangle forming on the 1hr timeframe, which would push BTC to form the right shoulder potentially. Keep an eye on the 7100 area - if it gets rejected it...

fiscalshrike

BTC is trading in an unpredictable region. What we know is that there is a lot of resistance between 7400 and 8400 and this bull run is over-extended and due for a pullback. But how high will it go before it pulls back, and how low will it pull back to. I wish I had the answers. There are many ways this can play out and I have tried to visualise how the chart...

fiscalshrike

Bitcoin is currently enjoying bullish momentum and has broken through a number of key areas. However, I see the volume declining and a confluence of strong resistance ahead which makes me bearish. My findings are as follows: - A bearish trendline (orange line) which marks a downtrend since February - A strong historical support and resistance area around 7450...