H&S, Bitcoin making another attempt for inverse $NO0

in #mgsc6 years ago

Bitcoin 0.37% has made maybe 5 attempts to make that inverse H&S around the 6500 neckline, but they have all failed so far. This time it got rejected again at 6500, but with all the action going on yesterday, don't think it will fail this time (read my last few updates of the previous analysis, with a big whale buying big amounts of Bitcoin 0.37% around 6250/6300). Unless a big part was all wash trading we saw yesterday, we can never now that for sure :(
Anyway, if it's not fake, these people don't buy for a 100/300 points, they buy for moves of 1000/3000 points. But i don't see the market recover very easily though, unless we see the alts make a second move up, something we have not seen for a while now. The big turning point for the mid-term is 7300, but a road of resistances is up ahead in the mean while as well.

There is room for a drop tlVUYQ0DO.pngo 6100 even, but i don't think the market will be able to handle that, bulls need to feel safe with their longs, no big crashes if this is a turn around. Think for the bulls we should stay above the first green box on the right. If that breaks, it would trigger the small H&S on the left, which can bring us back to the 6100 and the danger zone.

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