Bitcoin Head And Shoulders

Bitcoin Head And Shoulders. This strong support that most of you have shown in the last poll for the main coin kept it from the collapse into the abyss. A crucial head and shoulders pattern is likely forming with support near $9,150.

Head and Shoulders Pattern in Bitcoin for BITSTAMPBTCUSD by Crypto from www.tradingview.com

Last november, we highlighted a cup and handle bullish pattern on bitcoin that served as a base for a big rally. I have no idea if this is a true head and shoulders top… but, i do know that the recent lows and the 29,000 level are critical support for bitcoin. Bitcoin was in the “to be or not to be” situation last month as the giant head & shoulders pattern emerged to target the utter annihilation of bitcoin.

Source: beincrypto.com

The volatility in the cryptocurrency market declined significantly during the last two months. Bitcoin recently broke the long forming head and shoulders pattern, target is about 14,540 dollars which will be a likely good buying opportunity.

Source: www.tradingview.com

I have no idea if this is a true head and shoulders top… but, i do know that the recent lows and the 29,000 level are critical support for bitcoin. This past week, bitcoin extended its upward move above the $9,200 and $9,400 levels against the us dollar.

Then Shorting On A Macd If We Do Get To The Top Of The Shoulder.

Bitcoin’s attempt to rally past the $7,000 region has proven to be fleeting, with the benchmark cryptocurrency losing its momentum beyond this point and reeling below the support that had been established at $6,800 in a sharp overnight movement. A closer look at the head and shoulders pattern. 1 day agobitcoin, which which has rebounded about 15% from its crash lows of last week, is looking increasingly vulnerable to another drawdown.

A Crucial Head And Shoulders Pattern Is Likely Forming With Support Near $9,150.

So, if it plays out according to textbook patterns, we would expect: This strong support that most of you have shown in the last poll for the main coin kept it from the collapse into the abyss. In this case, that size is about 55%.

Crypto Markets Have Had Another Day Of Declines With Total Capitalization Shrinking By Almost 3% As $8 Billion Leaves The Space.

The potential range of declines determines the distance from the head level to the neck. I have no idea if this is a true head and shoulders top. A head and shoulders pattern could be bad news for short term direction.

Bitcoin Broke The Neckline For Head And Shoulders, Looks It Might Drop A Lot.

I have no idea if this is a true head and shoulders top… but, i do know that the recent lows and the 29,000 level are critical support for bitcoin. They are now approaching critical levels and a bigger selloff could occur if there are no moves back to resistance. * a quick return to the $30k level.

The Drop Will Be Confirmed As Even More Likely If 42,800 Proves To Be A Resistance Point.

As well, a pattern with the rough sketch of a head and shoulders top has taken shape. Bitcoin price action in 2021 thus far has been like a rocket ship without any atmosphere to penetrate, soaring without any formidable resistance. Disclaimer the information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied.