Technical analysis Bitcoin BTC/USD - 25.06.2017
After last week turmoil, the Bitcoin course is almost in the same place as week ago. The price then tested support around 2472. After a failed attack on resistance at 2680, we once again came back to the previously mentioned support and the price reacted rebounding in north direction. Although we are still focused on growth, some of you will probably notice a potential head and shoulders formation. This is an trend reversing formation which forecasts the declines. We've marked it on the chart using red rectangles. Once it's fulfilled, that is, after breaking the neck line and re-testing it, it will be able to try short positions.
For those who is willing to invest with the trend, we present a scenario from a lower interval to join the growth.
interesting to see which direction it will take. The near "flat lining" was a bit strange. I believe it will go up as the bear take down wasn't that severe at all.
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Yes, its true.
Thanks for u comment and upvote