#BITCOIN SHORT Inverse C&H formation for -14% target $12,800

Inverse C&H formation with handle working to complete soon. Likely a drop to $12,800 within the next 16 hours or so..

註釋

If the inverse C&H formation is completed, we will see the completion of the bull trap, which will further drive down the value of Bitcoin, likely to around $11,000.

However, the inverse C&H is actually within a large bullish pennant that may break upward. See next update.

註釋

Looking at the purple triangle. We had previously broken upward of a bullish flag, which has now turned into a bullish pennant. That bullish pennant shows that we have a target of $45,000. However, the short term shows the inverse C&H, which shows we have a target of around $12k.

BTC market is indecisive. A fall could be beneficial for ETH as well as the alt coins, as the value of each alt in respect to the BTC, would be higher. This could mean a great profit time for the next week in alt coins. As those coins settle, people will move back into BTC as a store of value or safe haven, propelling it back upward for the next wave.

註釋

Further, we have an Head & Shoulders formation, pointing downward to $12k or lower. Our 4 hour and daily ichimoku support cloud, still shows support, which may keep us from falling off to $11k or $10k. If we break below the ichimoku support cloud on the daily chart, expect further losses.