jalbertsm

jalbertsm

Bitcoin may be completing a head and shoulders here if it cannot break through the 11,500 resistance level and does not find support in the ascending triangle, possibly sending it back down to 10,900 - 11,000 levels. If 11,500 resistance breaks, it will retest 11,700 levels, potentially finding a new support.

jalbertsm

Weekly RSI shows signs of a reversal for BTC bottoming out around 55 range, the lowest its been all of 2017 on the weekly chart. This closing weekly candle should confirm a breakout if a green doji forms and we close above 11,500-11,750 range. I still believe bitcoin needs to creep up above this 9 day EMA shown and confirm support before any kind of long term bull run.

jalbertsm

Hoping to see it bounce off this green support trend and break the top red resistance line, otherwise I see it trickling back down to meet support at on the bottom red line.