NOT FINANCIAL ADVICE
Bitcoin is currently forming a massive head and shoulders pattern on the daily chart with a clear cut neckline playing as support. Conformation of this pattern will break the 9.4k support and send us into the next closest area of support down in the 7-8k range. Ironically the 8.5k CME Gap is in that range... coincidence, I think not.
Daily MACD turning a bearish cross (massive sell signal for Algos)
Weekly MACD already in the red
Descending Triangle coming to a close, with H&S pattern. Double Bearish indications
I am long term bullish on BTC but prepared to face some short-mid term downside before the next massive leg up.
Lets see how it plays out.
Bitcoin is currently forming a massive head and shoulders pattern on the daily chart with a clear cut neckline playing as support. Conformation of this pattern will break the 9.4k support and send us into the next closest area of support down in the 7-8k range. Ironically the 8.5k CME Gap is in that range... coincidence, I think not.
Daily MACD turning a bearish cross (massive sell signal for Algos)
Weekly MACD already in the red
Descending Triangle coming to a close, with H&S pattern. Double Bearish indications
I am long term bullish on BTC but prepared to face some short-mid term downside before the next massive leg up.
Lets see how it plays out.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.