BTCUSD 4H (Bitcoin)

BITSTAMP:BTCUSD   Bitcoin / Dolar
Price broke under daily support with a bearish engulfing candle & now price is underneath its uptrend line.. Watch for a close for a bearish signal, price is now in a range of support and resistance & could consolidate for some time completing its right shoulder to finish off the Head on shoulders pattern it looks to be creating. After the recent bitcoin scandal of over 64 million dollars stolen, this could be the time where bitcoin finally has its first bigger correction!
Komen: told you it would fall....
Komen: watch price action once reaching highlighted zones
Komen: target one smashed
If only I could have precisely known the beginning of such a huge correction. On a bullmarket such as most cryptos, uptrends are easier to catch. Yesterday I made nice money with the bch rally.
As it is a 'bullmarket', I did not dare to enter a short on btc. Now Im knee-deep in the red with my long... guess I just have to sit this one out.
@Domsax48, I agree, it is a very bullish market & I rarely suggest shorting this pair. However I saw a pattern & breakout & price showed me a correction is coming. Now that we are getting more levels of support & resistance its getting easier to understand where price action goes
Well seen by you my friend! Congratulations!
+1 Balas
eazywayout Tuttocolore
@Tuttocolore, thank you : )
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