BTC is trying to outplay the dollar index which was a great sign to the crypto world.
We saw that with an incredible bull run in most of the Altcoins!
Now BTC is forming a Head and Shoulder pattern which is bearish, BTC stays above the EMA10 which is bullish.
MACD cross over above predicts an uptrend but forming a bearish divergence BTC may go to retest 60K but seems like the resistance is too hard.
Especially when the DXY is in a bullish reversal BTC has to calm down and go for a correction.
So I stay with this Bearish scenario with the stop loss of the Right shoulder high (59800).
My take profit - 55000
Happy trading!
We saw that with an incredible bull run in most of the Altcoins!
Now BTC is forming a Head and Shoulder pattern which is bearish, BTC stays above the EMA10 which is bullish.
MACD cross over above predicts an uptrend but forming a bearish divergence BTC may go to retest 60K but seems like the resistance is too hard.
Especially when the DXY is in a bullish reversal BTC has to calm down and go for a correction.
So I stay with this Bearish scenario with the stop loss of the Right shoulder high (59800).
My take profit - 55000
Happy trading!