as you can see, the right shoulder of BTC is forming as a cup and handle. (captain obvious) and any moment we will know if the cup (support) fails or succeed. if it fails (green trendline) and breaks down it will be a sell signal and I am afraid we will be bearish.
was reported when the market made the head (bottom) of the head and shoulders..
should wallstreet fail and the USD weakens I fear the market will go down again. but if it found a bottom, then crypto should be finding a bottom just as well (yes I know crypto and fiat are difference, but the value from fiat is moving into btc, if fiat fails.. one would imagine btc would go down as well)
like I said in my last chart, the market will have another bear run to go.
it happened (I made a bad drawing, it looks as if I think the market is going more up, silly me.) now all we have to do is see if it finds support on the green trendline, if it does. then we will start making a move up in the next couple of days towards the resistance, which will creat the cup.. then we will wait for the handle and go to the moon with the handle\inverse head and shoulders. if it fails.. I'm clueless.. I personally will go bearish and celebrate the opprotunity to buy crypto cheap.
Happy trading
Desclimer this is not a trading advice, a trader should do his research before any trade, once a trade was made it is the trader's responsibility.
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it looks as if BTC just found support long live the bulls.