BTCUSD - TECHNICAL ANALYSIS - Pullback
Bitcoin to pullback to at least $3600. Possible to see $3000 again.
Possible Head and Shoulders pattern forming on the 4 hour time frame.
30ema acting as support. BTC must break above 4157 and set a higher high above 4438 to negate the bearish setup.
Stochastic RSI cycling down, loosing momentum, MACD curling bearish.
If BTC fails to set a higher high, must hold pivot 3807 4hr chart.
Possible Trade: Long here stop under 30ema.
Alternative Trade: Long position in ZECBTC ETHBTC LTCBTC with 1-2 % sell stops below entry
Risk averse trade: Go to cash, buy BTC on breakout confirmation.
Bearish Targets for BTC - 3600, 3061.
Follow at your own risk, Not a financial adviser, understand the risks associated with trading and investing - in other words you could lose it all and I could give a fuck.
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