H&S Pattern + futures expiry coming up[Can touch 30-33k]
Update to my previous idea:
Bitcoin just touched 200 Day SMA. It is now one month into its bearish trend.
It formed a head and shoulder pattern on the daily chart and it looks grim.
It is likely to touch 33k. Definitely the best time to short but not good situation for others.
It may take weeks for it to recover.
At the top of this, more than 4.3 billion USD worth of btc futures is about to expire between 21-30th June.
Whatever recovery bitcoin will have will be reversed and it will be more or less back to the same price it is right now.
Expected Recovery time: 3 months (by August or September)
Bitcoin just touched 200 Day SMA. It is now one month into its bearish trend.
It formed a head and shoulder pattern on the daily chart and it looks grim.
It is likely to touch 33k. Definitely the best time to short but not good situation for others.
It may take weeks for it to recover.
At the top of this, more than 4.3 billion USD worth of btc futures is about to expire between 21-30th June.
Whatever recovery bitcoin will have will be reversed and it will be more or less back to the same price it is right now.
Expected Recovery time: 3 months (by August or September)
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