BTC Update 5/28

٢٨ مايو ٢٠٢١The head and shoulders pattern from the last chart didn't pan out as BTC failed to break the out from the upper trendline and fell below the 23.6% fib level. Rising support seems to indicate a compression in the price, with the big recovery or next fall seeming to show face in the next two days....

٢٨ مايو ٢٠٢١

تعليق

It could be argued that BTC is forming a HnS on the 4HR timeframe, starting around 5/19... I will not argue either way, but if that's the case, this current dip to 36K would be in accordance to the formation of the right shoulder. Technically, the target would be the $47.5-49K range on the confirmation. I guess this matches up with a lot of other TA short-term tops I've been hearing about.